The safety of your money on your personal pension account is primary. Money on your personal pension account are your private property, they is stored under a supervision of a depository and separated from the PFMC money. The saving for a pension in the 2nd pillar is safe because:
- the state has introduced the strict rules for the saving for a pension in the 2nd pillar
- the observance of these rules subject to 5 stages of control, the most important of which is a supervision of the National Bank of Slovakia
- money on accounts is the property of a saver during all the period of time of saving and it is separated from PFMC property
- the state guarantees the safety of your deposits according to the law.
In addition to abovementioned, the interests of the savers are also ensured by other guarantees which create the legal component part of the 2nd pillar of the pension scheme.
- Guarantee of performance:In the case of a “subnormal” performance of a fund (lower yields) compared with the competitors, the PFMC will be obliged to pay a difference arisen from its own sources in the accordance with law.
- Guarantee of the saver property: The Social Insurance Company (thus the state) has full liability for a damage caused by a decision, procedure or other action of PFMC and a depository being contrary to the law and resulting in a damage of a property of saver in a pension fund.
All the types of investment, which PFMCs may execute subject, in addition, to the investment limits set by the law, which determine strictly the frame within which the investments of PFMC may move. Therefore any PFMC may not invest into other than site and liquid securities having a rating assigned from renowned rating-assigning agencies. The observance of those limits is supervised daily especially by the depository (it approves all the investment transactions) and the National Bank of Slovakia (it receives information from all PFMCs daily on all the executed investment transactions).