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Average monthly old-age pension in February was €335.50

The average monthly old-age pension in Slovakia amounted to €335.50 in late February and approximately 925,700 people received this kind of pension, the SITA newswire wrote. Early retirement pensions, received by 52,700 pensioners in February averaged €349.80.

The average monthly old-age pension in Slovakia amounted to €335.50 in late February and approximately 925,700 people received this kind of pension, the SITA newswire wrote. Early retirement pensions, received by 52,700 pensioners in February averaged €349.80.

The average disability pension paid by social insurance provider Sociálna Poisťovňa (SP) to persons with a disability level up to seventy percent was €174.60, while pensioners with disability levels above seventy percent received €303.70 on average. SP registered over 200,600 recipients of disability pensions at the end of February 2008.

Pensions in Slovakia were increased by 6.95 percent at the beginning of this year. They were raised in relationship with the y-o-y growth in consumer prices and the y-o-y growth in the average wage in the first half of 2008. Pensions are adjusted upward by an average calculated from these two parameters. The Slovak Statistics Office said that the y-o-y increase in consumer prices throughout the first half of last year was 4.2 percent and the y-o-y growth in the average wage in Slovakia was 9.7 percent.

An amendment to the social insurance law approved by parliament in late October last year introduced the January pension increases in connection with adoption of the euro. SITA

Compiled by Zuzana Vilikovská from press reports
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