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BUSINESS BRIEFS

Confusion over pension rise

DESPITE a planned rise in pensions of 5 percent agreed in parliament earlier this month, the parliamentary opposition has called for higher rises of between 8 and 10 percent. Two of the ruling parties, the New Citizen's Alliance (ANO) and the Hungarian Coalition Party (SMK), are also asking for higher rises.

Labour Minister Ľudovít Kaník said that although a 10 percent rise would be needed to improve pensioners living standards, "the government does not have a magic wand".

The Labour Ministry disputes social security provider Sociálna poistovňa's claims that a 7 to 8 percent rise is affordable.

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