Competition for banks: RS Government establishes voluntary pension fund for saving money

The Government of Republika Srpska has launched an initiative to establish a voluntary pension fund in RS, where citizens could invest money instead of in banks, writes the BH News Agency Patria.

The Prime Minister of Republika Srpska Željka Cvijanović and the Minister of Finance Zoran Tegeltija discussed this matter today with representatives of the European Bank for Reconstruction and Development (EBRD), Skupna pokojninska družba from Slovenia, and the Pension Reserve Fund of Republika Srpska (PREF), it was announced from the RS Government.

The meeting discussed the establishment of a voluntary pension fund in RS, as well as a company that would manage this fund.

Along with the Pension Reserve Fund of Republika Srpska, the co-founders of the Company for the Management of the Voluntary Pension Fund would be the European Bank for Reconstruction and Development and Skupna pokojninska družba from Slovenia.

The Government announced that the establishment of such a fund will enable citizens to save additionally so that, in addition to their regular pension, they would also receive a pension from the voluntary pension fund, and the greatest effect will be for insured persons who start making contributions from the beginning of their working life, reports NAP.