Supplementary pension saving under DDS Tatra banka
The TATRA BANKA GROUP includes also the Supplementary pension saving under DDS Tatra banka Company (SPSC) which offers an unrivalled and best method of saving for pension. The Supplementary Pension Insurance (SPI) is a Slovak equivalent to the pension funds which are most popular in the world.
The purpose of SPI is to enable the insured to receive supplementary pension benefits in the old age or handicapped support, or to ensure additional income for the survivors in the event of death of the insured, in the form of benefits from the funds created by contributions paid by the insured, or even contributions paid by the employer and from the profit raised by the insurance company from its business activities.
The SPI operates on the principle of regular savings of small financial amounts which are accumulated on long-term basis and valorized on the pension account of the insured, maintained by the Pokoj SPIC. The SPI is supported by the state through tax exemptions applicable for contributions of both the insured and their employers. In payment of the benefits, only the yield is subject to taxation.
The Pokoj SPIC was established under the permit granted by the Government of the Slovak Republic. The company is under governmental supervision performed by the Slovak Ministry of Labour, Social Affairs, and Family and the Slovak Ministry of Finance. Effective management and valorization are the responsibility of Tatra banka which acts as a depositary for Pokoj SPIC and a manager of the assets held by the insured.
As of February 20, 2004, Pokoj SPIC recorded 130,408 insured and 4,418 contracts with employers which pay contributions on behalf of their employees. The value of the assets held by the insured reached SKK 2.231 billion.
The SPI is regulated by the Law No. 123/1996 Coll. on supplementary pension insurance of employees, and on amendment to certain laws, as amended.
See the www.pages about the details on the insurance company Pokoj doplnková dôchodková poisťovňa.
