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Czech Republic: Raiffeisen Withdraws from Pension Insurance Business

Published: March 4, 2014; 19:51 · (Vindobona)

Pension insurance company Raiffeisen penzijni spolecnost will terminate business activities on the Czech market for private pension schemes, as announced by the company in a press release.

Czech Republic: Raiffeisen Withdraws from Pension Insurance Business / Picture: © Vindobona

The stated reason for the withdrawal is because of the government’s approach to pension reforms and the abolishing of the so-called second pillar of the pension system including savings in the so-called second pillar of the system, which was introduced by the previous government. Raiffeisen has about 13,000 clients in the second pillar, who will be taken over by pension company…

This article includes a total of 218 words.

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