Slovakia's major pension reform started on October 30 after parliament overruled a presidential veto on the law on social insurance that modifies the pay-as-you-go system of social security provider Sociálna poisťovňa (SP), news wire SITA reported.
"I had expected that. Any other development would be economic suicide for the whole country," Labour Minister Ludovít Kaník said after the vote.
President Rudolf Schuster claimed that the bill was disadvantageous to the socially weak.
The lawmakers also adopted a law on compensation for income during sick leave, which transfers the duty to pay employees' sickness benefits during the first ten days of sick leave from the social security provider SP to employees. Sickness benefits will amount to 25 percent of the gross wage of the employee during the first three days of sick leave. Afterwards they will increase to 55 percent.
Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
31. Oct 2003 at 11:20