Pension managers profits fell last year

Revenues of the five pension managers in the second pension pillar fell 65% to €46.2m last year and their net profit plummeted 77% to €17.9m. The poor results reflect performance of their funds in light of last year's developments on the financial markets. All pension funds ended in the red, with non-guaranteed funds losing 11-28%. Still, all the pension managers turned profits. Recent legislative changes have limited their fees and the record sales and profits of 2021 will not be repeated anytime soon.

(finsider.sk)