An analysis of the third pension pillar in the Republic of Croatia

Reformom koja je započela 1999.godine uspostavljen je mirovinski sustav Republike Hrvatske. Reforma je donijela niz bitnih promjena vezanih za prvi mirovinski stup-sustav međugeneracijske solidarnosti. Zatim, od 2002. godine u Republici Hrvatskoj zaživjeli su drugi i treći stup, tj. obvezna i dobrovoljna mirovinska štednja, a početkom ove godine donesena je nova mirovinska reforma kojom bi se sustav učinio održivim. Treći mirovinski stup odnosno dobrovoljna mirovinska štednja predstavlja individualnu kapitaliziranu štednju gdje član samostalno određuje učestalost i iznos. U Republici Hrvatskoj u 2018. godini poslovala su četiri društva za upravljanje dobrovoljnim mirovinskim fondovima koja upravljaju sa osam otvorenih dobrovoljnih mirovinskih fondova i dvadeset i dva zatvorena dobrovoljna mirovinska fonda Unatoč tome, dobrovoljna mirovinska štednja još nije dovoljno razvijena u Hrvatskoj, stoga država potiče štednju u treći mirovinski stup kroz isplatu poticajnih sredstva iz državnog proračuna i poreznim olakšicama prema poslodavcima.The pension system of the Republic of Croatia was established by a reform that started in 1999. This reform brought about a sequence of important changes that were significant for the first pension pillar - the system of intergenerational solidarity. After that, starting with 2002, second and third pillars also came to existence in the Republic of Croatia and those being mandatory and voluntary pension savings, and earlier this year, a new pension reform was introduced to make the system viable. Third pension pillar, or the voluntary pension saving represents individual capitalized savings in which the person independently sets the frequency and amount. In 2008, there were four companies in the Republic of Croatia which deal with the management of the voluntary pension funds and those effectively manage a grand total of eight open voluntary pension funds and twenty two closed voluntary pension funds. Anyhow, voluntary pension saving is still not that developed in the Republic of Croatia, so for that reason, the State encourages the savings in the third pension pillar by paying the fund members their subsidies from the State budget and tax relief towards their employers