Text file: 9950.txt
author: Tomaz26
downvotes: 0
end consideration date: 2019-04-08
id: '9950'
number comments: 3
number views: 1334
proposal type: Competent authority response
response: 'Response from the Ministry of Finance


  It is important to point out that pension policy-making is the responsibility of
  the Ministry of Labour, Family, Social Affairs and Equal Opportunities (MLFSA),
  while tax policy-making is the responsibility of the Ministry of Finance. From the
  point of view of tax policy, we would like to emphasise that tax policy should not
  be the only factor encouraging individuals to save for old age, but it should be
  borne in mind that tax policy can only support other policies.On the issue of the
  regulation of supplementary pension insurance, the MoFSA has previously clarified
  that the State encourages additional savings or supplementary pension insurance
  in order to acquire the right to a supplementary old-age (or early) pension. This
  measure is a consequence of negative demographic trends which will lead to lower
  pensions from the compulsory pension and invalidity insurance (first pension pillar)
  in the future. In order to save for additional pensions in pension funds, a second
  pension pillar was created, which is also regulated and supervised more closely
  by the State. Thus, managers of supplementary pension funds are required to obtain
  all the necessary authorisations from the supervisory authorities to manage pension
  funds, as well as to have approved pension plans, where the rights and obligations
  of the members of the pension funds are precisely defined and the (restrictive)
  conditions for one-off withdrawals of the funds saved are specified. This form of
  insurance or saving for old age is tax-encouraged by the State due to its precise
  rules and, above all, its purpose, whereas other forms of insurance or saving under
  the third pillar of the pension system are subject to less State intervention and,
  consequently, the incentives offered by the State for these products are more limited.
  These products are a more general form of insurance or savings, which allow for
  a little more flexibility and thus give individuals greater freedom to choose between
  different saving or old-age insurance options. However, due to their nature, they
  are consequently not supported by the State with the same tax breaks as the other
  pillar of pensions. These forms are tax-equivalent to other investments or their
  tax treatment depends on the form of investment (e.g. investments in investment
  funds, investment life insurance and savings in the form of deposits with banks
  and savings banks).'
response date: 2019-05-14
response due date: null
sent date: 2019-03-14
title: Savings in the third pillar exempt from interest tax
upvotes: 19
url: https://predlagam.vladi.si/predlog/9950
