Ministry of finance proposes pension savings reform, wants government approval by end of June

Support for pension savings for clients under 30 will be increased, with new incentives introduced. Most types of savings will see the removal of performance fees and a reduction in management fees. The relevant bill will be submitted by the Ministry of Finance into the interdepartmental comment procedure on Thursday, and the government is expected to discuss it by the end of June. This was stated today by finance minister Alena Schillerová.

According to Schillerová, the changes should make pension savings more attractive for young people and help them achieve a higher pension in addition to the state pension. At the same time, clients’ returns should increase at the expense of pension companies. She described the level of fees as one of the highest in Europe.