Pension funds

As part of its integrated supervison of the financial market, Národná banka Slovenska oversees a pension fund sector comprising two autonomous pillars (each separate from the state-run earnings-related first pillar of the pension system).

One pillar is the old-age pension scheme (the 'second pillar') and the other is the supplementary pension scheme (the 'third pillar'). The old-age pension scheme is a largely compulsory defined contribution scheme, while the supplementary pension scheme is a voluntary defined contribution scheme (although participation is mandatory for people employed in certain higher-risk occupations).

The second pillar is operated by pension fund management companies and the third pillar by supplementary pension management companies.

Pension fund management companies (PFMCs) are joint stock companies incorporated in Slovakia. The authorisation to establish and operate a PFMC is issued by NBS in accordance with Act No 43/2004 Coll. on the old-age pension scheme, and on that basis PFMCs establish and manage the second-pillar's pension funds.

Supplementary pension management companies (SPMCs) are joint stock companies incorporated in Slovakia. The authorisation to establish and operate an SPMC is issued by NBS in accordance with Act No 650/2004 Coll. on the supplementary pension scheme, and on that basis SPMCs establish and manage the third-pillar's supplementary pension funds.

Participants

Legislation

Acts, decrees, recommendations and methodological guidelines concerning PFMCs and SPMCs may be found here.