Croatia - Second pillar of pension system discussed - October 31, 2016

A conference on ‘Croatian Pension System and Sustainability of Its Second Pillar’ was dedicated to the future needs in the field of pensions. The mandatory second pillar system with individual accounts started operating in 2002 with defined contribution schemes. Experts who took part in the conference were divided over whether the second pillar, which consists of individual savings accounts, was unsustainable and ultimately less favourable for retirees or whether it was a good solution given the unfavourable demographic trends and aging population.

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