"The Second Pillar Is for Banks, but Here There Would Be People": Are Occupational Pension Funds Needed?

Lietuvos Radijas ir Televizija

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For 20 years, Lithuania has had a law allowing the creation of occupational pension funds. Employers could pay a certain amount for their employees to save for retirement in an occupational fund. But such funds do not exist. Last year, trade unions put forward the idea that occupational funds could replace the second-pillar pension funds – they just need to be restructured.