TNBiz (TNBiz)
Markets  |  December 06, 2012 19:05:12

Necas pension funds are committed to the people explaining pension reform

PRAGUE (MEDIAFAX) - Prime Minister Petr Necas (ODS) and representatives of the Association of Pension Funds on Thursday for the first time met to coordinate strategy around II. pillar pension reform. They want to explain to people that if you rely only on the state, they are at risk of poverty in old age, Necas said.

Both sides agreed that from now on they must attend communicate with the inhabitants of the Republic, to understand the pension system and what actually the second pillar pension reform means. "We will not force anyone, however, the government will not break anyone. Simply put on the table numbers and objective information and leave it to the judgment of the citizens," said Petr Necas after the meeting. "We will also repeat accurate information, namely that if the young and middle-aged rely on the ongoing pension system guaranteed by the state, it runs the risk of poverty in old age," he added.

Government funds and so they want to fight against what they say in unison "negative campaign". Have in mind as well as calculations of analysts suggest that II. pillar is not suitable for everyone. For now, the desire to engage declare roughly two percent of the population, and another ten to twenty percent of people considering whether to use the second pillar. Such figures are not banks too tempting. "The second pillar, according to our surveys pay about half of men and thirty percent of women," concluded experts from think tank IDEA.

Necas and Karel Svoboda as President of the Association of Pension Funds now want to devote time and energy making people familiar with all the pitfalls of pension reform. Then you have to decide what type of pension scheme for old age to choose. "We expect such as advertising, which are joining forces for the Cabinet Office and the Ministry of Labour and Social Affairs," mentioned Necas.

Svoboda said that the association will target mainly through the five million clients. "The pension funds, the vast majority of economically active population, we will communicate with them. Any money on advertising and marketing commit, but it is restricted by law. Mainly targeting the clients," described the strategy and said that he liked to hear the prime minister's assurance remedy the situation.

Necas admitted that the lack of communication with the people is government debt, to which Svoboda said that he's been with Prime vyříkal and it would end. The Prime Minister is confident that the situation will improve now. "People logically znejistila both very negative campaign, and that it was not at all clear that the legislative process in time expires and the reform will take effect with the new year. Them is not surprising, but now we have to overcome. Previously, we were also somewhat defenseless when the legislative process was not over.Yourselves know well that the negative report finds a much bigger impact than the positive, "the prime minister forgave jolt media. Soon, however, said that even with the government counts them in its information strategy.

License to participate in the second pillar gained ten entities: Generali, Aegon PF, PF Commercial Bank, AXA PF, PF Czech Savings Bank, CSOB Stability PF, PF Czech insurance company, Allianz, ING, Raiffeisenbank and PF. Three of them PF Aegon, AXA and ING PF PF have already announced that the second pillar participate and get involved only to the third. They can not be certain that the second pillar involve enough people, their number depending on how the system will operate.

"We have to accept their decision, but the overwhelming majority of funds are involved. Those three, do not want, so i decided probably occurred because they do not have a strong financial group," Necas justified.Svoboda added that participating in the pension funds cover 82 percent of the market.

The state budget for next year so far assumes that the pensions issue 6,000,000,000 crowns. "If the pension due to II. Pillars spending less on the amount of the deficit will fall," he added.

One of the negative campaign pieces, of which Necas is Svoboda discussed, is the presidential veto, which II. Pillar received by Vaclav Klaus. Deputies eventually overruled him, and the law will take effect from January 2013.

"Punching Power key changes this Parliament does not give good prospects for its long-term sustainability and stability conditions for the next possible political constellations. Government pension reform project, in particular the creation of the so-calledsecond pillar, ie individual voluntary pension savings in private funds, it is proposed to start at a time when the financial crisis has exposed the risk and undermined the confidence in the long-term collective investment when similar systems in the world and especially in the countries around us got into a severe crisis and are re- nationalization or significantly modified and the overall economic situation and the outlook is not particularly favorable, "explained the President its opinion.

Reasoning that in such a situation, according to him, start gambling reform with confidence of citizens, the stability of the pension system and public and private finance. It is difficult to estimate, according to Klaus and the effects of the introduction of the second pillar of the pension system running today, and where is the next decades will be how the current generation of pensioners, a new generation of those who are approaching retirement age, fully dependent.
Another factor that may be interested in discouraging private savings, is that the Social Democrats have already announced their intention to cancel the second pillar, if after the next election becomes a governing party. "People should not lose their savings, we transferred them to the third pillar," said CSSD chairman Bohuslav Sobotka. According to the interim results of surveys and autumn regional and Senate elections, social democracy has a real chance to fulfill their promises.

Katerina Šurmanová,

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