Payments into private pension funds to end by 2016
The new labour and social affairs minister, Michaela Marksová-Tominová of the Social Democrats, is planning to disallow payments into private pension funds by 2016. The introduction of the so-called second pillar of the pension system was a key feature of the previous centre-right coalition government’s efforts to reform the pension system. Ms Marksová-Tominová told reporters a team of coalition and opposition politicians along with experts should start working on a new reform of the system. Around 84,000 people have joined the second pillar, sending part of their monthly social insurance payments to private funds.