The Slovenia Insurance Supervision Agency published an explainer on Slovenia’s “third pension pillar”, presenting it as voluntary, individual retirement saving where the individual chooses the product, strategy and risk level and bears greater responsibility for outcomes, complementing the first and second pillars. The article describes the third pillar as a bundle of long-term saving and investment products, including individual supplementary pension insurance (PDPZ) offered by insurers and pension companies, savings and unit-linked life insurance, mutual funds and ETFs, individual securities investments and bank deposits. It notes that the legal framework is spread across multiple laws, including income tax, insurance, investment funds, banking and contract law, and that oversight is shared by the Insurance Supervision Agency, the Securities Market Agency and Bank of Slovenia. Key practitioner-relevant points include the lighter and more fragmented regulatory framework than the second pillar, exposure to market, diversification, cost and legal risks, and product-specific tax treatment, including statutory limits on any income tax relief and conditions (such as contract duration) that can affect the taxation of life insurance savings products.
Slovenia Insurance Supervision Agency 2026-02-12
Slovenia Insurance Supervision Agency publishes guidance on third pillar retirement saving products and key risks
The Slovenia Insurance Supervision Agency released an explainer on Slovenia's "third pension pillar," highlighting it as a voluntary, individual retirement savings option with diverse products and a lighter regulatory framework than the second pillar. Oversight is shared with the Securities Market Agency and Bank of Slovenia, and the framework involves multiple laws, exposing participants to various risks and specific tax treatments.