TNBiz (TNBiz)
Pension insurance  |  April 18, 2013 13:24:40

CSSD: II. pillar of the casino in which pension companies win! The government does not agree, where is the truth?

"In fact, it is the second pillar of a private casino, which will deliberately play with the money of the citizens. Everybody in 2008 we see for themselves what they can do poorly functioning international financial markets and how the crisis has sharply reduced the assets of pension funds," said Sobotka.

Prime Minister Petr Necas (ODS), however, argues that the state pension benefits are likely to rapidly decline and reform is therefore needed. "For example, people born in the year 1981 with a revenue 20,000 crowns a month in retirement could receive roughly 6,400 crowns at present value, against the current 11,000," justified the need to save for their own prime minister.

CSSD countered with the fact that the second pillar system is totally wrong and people need such stress that their funding invested in this system could also come.The government does not give any guarantees or insurance does not provide the second pillar, as in the case of bank deposits. "Even the promised interest rate of 2.5 to 3.5 percent may not be a reality. During the last ten years have shown pension funds income below one percent," said leader of the Social Democrats. He added that the second pillar earn only the richest, and therefore CSSD with this system in the future does not count. "After the election we plan to abolish this system," concluded Bohuslav Sobotka.

The proposed II. pillar, among the opposition are not sure or certain insurance companies. They are due to unforeseeable developments decided instead to create their own financial products to support saving for retirement, than to introduce new concept proposed by State.AWD analyst Tomas Rampula to add that it is directly blatant amateurism with which public officials act in the preparation of the pension reform. "The only asset of the event remains a growing awareness of Czech citizens who are looking for state pension reform are beginning to understand that for them to become at the time of retirement really does not proceed fully," said Rampula.

While the Social Democrats had considered a second pillar for virtually written-off affair. The Ministry of Finance for Mediafax said that at this moment it is still too early for any assessment and labeling system for the failure. "The pension companies have signed contracts more than 20,000 clients, however, we expect the brunt until the end of the six-month period for people over 35 years old.It should also be noted that younger people are not bound by any deadline, thus have more room for decision, "said James Haas press department of the resort finance. Added that pension reform is also not only II. Pillar, but a lot of other important steps that have been made in other pillars, including parametric modifications of the first pillar and increase motivation for saving III. pillars.

The so-called II. pillar consists in partial outlet of money from the ongoing pension system to private accounts savers. People will simultaneously save the solidarity of the first pillar and to himself. The premium is the one who is in II. pillars involved, will be reduced from 28 percent to 25 percent. Three percent difference then, while they leave the private account saver but they must add another two percentage points of their payroll.

By the end of June, have potential entry into the second pillar choose people over 35 years old. You're still the possibility of entering too tempted, with funds signed a contract for the first three months of about 22,500 people. Petr Necas therefore appealed to residents to perform a calculation and decided.

So who pays the entry into II. pillars?

If your average monthly income is around the national average, or below it, then rather let thoughts of II. pillar to the water. Entry into this system, according to experts pay more to those who reach the above-average earnings. Counted while evaluation of between one and two per cent.

Should closely consider their input but also those who receive about 25 thousand gross income and are rather closer than farther. Citizens with an average income Indeed, analysts at net income one percent per year worth this kind of savings to more than 25 years.

Clearly advantageous and II. pillar remains only for those who receive above-average salary and pension at the same time they still knocking on the door immediately. Applies yet simple equation, the higher the income a person has, the less time he needs to save in the second pillar. Even so, there were such people with a salary of around 50,000 per month to spend at least 15 years of age, and citizens with an income of around 100,000 at least 10 years of age.

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