Spectator on facebook

Spectator on facebook

Slovakia will have to raise its retirement age: NBS vice-governor

Slovakia will have to increase the retirement age, said the vice-governor of the National Bank of Slovakia (NBS), Martin Barto, speaking on TV JOJ’s De Facto political programme on November 18.

Slovakia will have to increase the retirement age, said the vice-governor of the National Bank of Slovakia (NBS), Martin Barto, speaking on TV JOJ’s De Facto political programme on November 18.

Among the reasons for this step, Barto cited rising living standards, better health care and higher life expectancy. He said a situation in which people live for twenty to twenty-five years on a pension will not be sustainable.

Barto also said that it is wrong to draw long-term conclusions about investments in privately managed pension funds (the second, so-called capitalisation, pillar of the pension system) based on the current financial crisis, adding that higher yields cannot be attained without taking certain risks. Some people may currently have less money in their accounts than they have paid in to it, but this is a temporary situation, he said.

The minister of labour, social affairs and family, Viera Tomanová, has stressed that most savings in the capitalisation pillar have reported losses and has repeatedly encouraged savers to switch to the state-owned pension provider. The second pillar was recently re-opened to allow people to do this without incurring penalties. SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Slovakia is the first country to test a new VAT refund app

Getting money back for buying souvenirs in Slovakia will be easier - there will be an app.

Illustrative Stock Photo

Prosecution has found errancies in criminal files related to self-employed farmers

General prosecutor feels that some prosecutors in the east of Slovakia follow their own conscience and opinion and not valid legislation.

General prosecutor Jaromír Čižnár

Begin afresh

I’m not sure if there is a typical Canadian way to get married.

Homophobic banners attributed to Ján Mrva give rise to criminal complaint

The Bratislava Mayoral candidate denies being behind the banners but has not condemned the contents argues NGO.

Ján Mrva