In the Republic of Croatia, there are several legal regulations in force, which arrange the pension system which was, from the beginning of 2002, combined, public-private, organized in three levels, two of which are mandatory, and the third voluntary.
Legislation / Regulations
The Croatian Financial Services Supervisory Agency (Hanfa) was established to perform supervision and control of the operation of pension companies and of pension funds.
Three pension Pillars
I. pillar is organized on the principle of intergenerational solidarity. II. and III. Pillar are organized on the principle of defined contribution, of which II. pillar of mandatory, and III. pillar of voluntary pension insurance.
Pensions from II. and III. Pillar
When the member acquires the conditions for the pension, the insured person transfers his capital from the pension fund of which he has been a member until then to the pension insurance company.
Terms in the pension system
See that all the key concepts appear in the story of the pension system and that is what they mean.
More information on the Raiffeisen Group members and institutions to mount the pension system look at these useful links.