LAWS TO WATCH: Pension Legislation Package
The government adopted amendments to the Pension Insurance Act and the Mandatory Pension Funds Act.
According to the amendments, the funds of those citizens who exercise their pensions under special regulations (i.e. active military personnel, police officers and authorised officials) will be transferred from the second tier of the pension insurance to the first tier, meaning that their assets, capitalised in the mandatory pension funds, will be transferred to the state budget (e.g. €238.4 million in 2015, €23.1 million in 2016 and €23.1 million in 2017).
In addition, when entering the pension system, all future pension beneficiaries who will exercise their pensions under special regulations will be obliged to give a personal and irrevocable statement whether they want to be insured in the second tier or not.
Proposed by: Ministry of Labour and Pension System
Note: The government changed the legislation via bylaws because the Sabor is in summer recess