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Czech Republic: Raiffeisen Withdraws from Pension Insurance Business
Politics ♦
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.org
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…
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