BY 2050 almost four in ten citizens of Slovakia will be aged 60 or more, according to the Allianz Demographic Pulse study, the SITA newswire reported. Currently, people over 60 make up 19 percent of Slovakia’s population. According to the study, the increasing longevity which partly accounts for the rise is a result of huge progress in health care and social conditions.
“By 2050, government expenditure on pensions, social care and health care will constitute almost 30 percent of GDP in the eurozone,” SITA reported, citing the study. “Slovakia will be under the average of the European Union, with a share of 20.4 percent of GDP.”
In Slovakia, the biggest percentage increase in costs related to the ageing population is expected to be in the area of pensions.
“Overall, in connection with the increasing age of the population, the costs of pensions, social care, education and health care will rise by 5.2 percent of GDP by 2050 in Slovakia,” the study predicts.
The study also researched estimated longevity. Increasing life expectancy together with a fall in the age limit for retirement by the end of 1990s led to an enormous increase in the time people spend in retirement. In developed countries, men spend around 20 years in retirement on average. On average, people in France spend 24 years in retirement, while Swiss people spend 16.8 years. According to the study, Slovak men spend 16.3 years and Slovak women 25.1 years in retirement.
18. Apr 2011 at 0:00 | Compiled by Spectator staff