Lithuania: PM sceptical about state-run second-pillar pension fund

Lithuanian Prime Minister Ingrida Simonyte has expressed scepticism about an idea to establish a state-run second-pillar pension fund, Baltic News Network reports. She noted that there was plenty of competition in the pension fund market, and that the activities of pension funds were well regulated. The problem was that there was not much choice on how to invest the funds to benefit the Lithuanian economy, Simonyte argued. Earlier, Gediminas Simkus, governor of the Bank of Lithuania, proposed setting up a state-managed second-pillar pension fund to compete with private funds. He suggested that people could be enrolled in the state-run fund automatically.