Slovakia approves 710 euro minimum pension for elderly

The National Council of the Slovak Republic has approved an amendment to the Social Insurance Act that will increase the minimum pension for a specific group of retirees. Starting January 1, 2027, pensioners aged 85 and older who have completed 30 years of pension insurance will be entitled to a minimum pension of at least 710 euros.

The new regulation establishes a special lower limit for the minimum pension, set at no less than 240 percent of the subsistence minimum for an adult. This measure, proposed by the SNS party and amended by MP Roman Michelko, aims to support elderly citizens who may lack the financial means to cover costs in residential care facilities. The Social Insurance Agency is tasked with determining the specific pension amounts by March 31, 2027.