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SpanishCroatia pension funds seek higher contributions, deeper market
Croatia’s government should press on with plans to gradually double the amount of money citizens pay into pension funds to help turn around the loss-making pension system, the head of the main industry body said on Tuesday.
Damir Grbavac, chair of the UMFO pension funds association, told Reuters his members also needed more opportunities to invest in the local economy, saying there was a shortage of Croatian companies seeking listings or funding on the capital market.
Both the IMF and the World Bank have said Croatia needs to overhaul its pensions system, alongside other reforms, if the newest member of the European Union wants to get its economy in a healthy enough state to join the euro.
Read More: Reuters
