According to vice-president of ZDUS Mirko Miklavčič, the holding would render impossible the tracing of ownership of funds, whereas the funds earmarked for the stability of the pension system should maintain their purpose.

The association is against the holding, saying the funds would be spent on other goals. Should the state go through with the proposal as it is now, the ZDUS would demand that their funds be repaid in real value.

The association might even call a referendum on the holding, depending on what the negotiations will bring, Aldo Ternovec of the ZDUS added.

"I'm not saying that the current organisation is the best, but I doubt that the planned one is any better," he noted.

ZDUS president Mateja Kožuh Novak meanwhile stressed that the association was seriously concerned about democracy in Slovenia, as the introduction of the rule in the Constitution would take away the citizens' ability to correct misguided moves of politicians.

Miklavčič echoed her words, adding that in Slovenia and Europe enough laws existed that were aimed at balancing spending and earning, which is why "such constraint is not necessary".