In the TV24 program "In Focus: Economy," pension system expert, Doctor of Economics and Associate Professor at RBS Edgars Volskis noted that in reality, the situation with second-level savings is somewhat more complex than just "to give or not to give."
He points out that pension capital cannot be perceived as simply freely available money that can be withdrawn from the system at any moment.
"No, this is not your money! This is pension capital formed through the public tax system," he explains.
The expert emphasizes that for many years people have been told that by paying taxes, they are forming personal pension savings. People make social contributions, the money goes into the pension system, and it is managed with the best intentions — to ensure pension payments in the future: "This is not a story about the first or second level separately. Both are formed from the taxes paid by people — this is not people's money, this is tax money," he notes.
The expert admits that he has serious doubts about the idea of allowing people to simply withdraw their pension savings. In his opinion, constitutional law experts should also get involved: "Is this even legal? This money entered the system as public tax payments and was converted into pension capital."
According to the expert, pension capital is not legally the same as the funds in a person's bank account. It is a completely different financial instrument intended for a specific purpose — to provide pensions. He acknowledges that for some segments of society, such arguments may seem like bureaucratic obstacles; however, in reality, it is about the principles and stability of the entire system.
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