Slovakia implements pension increases and debates new social benefits

The Slovak Social Insurance Agency has completed a mass recalculation of early old-age pensions, resulting in increases for over 122,000 recipients. This adjustment follows a 2023 legislative change that reduced the rate at which early pensions are cut for those with at least 40 years of service. On average, monthly pensions rose by 23.50 euros, with some recipients seeing increases as high as 398.80 euros. These changes are applied retroactively to January 1, 2023, and the agency is automatically issuing written decisions and back payments to affected individuals.

Separately, the Council for Budgetary Responsibility has criticized a parliamentary proposal aimed at raising the minimum pension for citizens aged 90 and older to 856 euros per month. The Council warns that the measure lacks sufficient funding and could negatively impact public finances, potentially increasing the annual deficit by up to 94 million euros and significantly raising national debt by 2030.

In other legislative developments, SNS lawmakers have proposed a new law to provide a one-time 500-euro contribution to newly married couples for their first marriage. The proposal, estimated to cost approximately 8.75 million euros annually, aims to assist with the costs of establishing a new household.