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Pensions to rise by 1.8 percent as of January

State pensions will rise by 1.8 percent from January, state social insurance provider Sociálna Poisťovňa (SP) announced on January 5, the TASR newswire reported.

State pensions will rise by 1.8 percent from January, state social insurance provider Sociálna Poisťovňa (SP) announced on January 5, the TASR newswire reported.

The increase applies to all types of pensions: old-age, early retirement, invalid, widows' and widowers', orphans' and social benefits.

Pensions are currently increased (valorised) on the basis of inflation and average monthly salary growth, but Labour Minister Jozef Mihál wants to introduce a different method of increasing pensions. The amendment to the Social Insurance Act that he recently proposed included a rule that would mean pensions reflect changes in inflation, but would mean increases are applied across-the-board (rather than a percentage). So far, however, the amendment has not been passed.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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