Retirement age may be capped in Slovakia

Future generations will pay for this.

(Source: Sme)

Slovakia is one of the European countries most endangered by an ageing population. This does not only mean a less available labour force in the future but an increasing pressure to finance pensions for the increasing number of pensioners. To ease this burden the Robert Fico government introduced an automatic increase in the retirement age. Now his ruling Smer party wants to cap it. Some opposition parties as well as economists do not see it as a good idea since this would endanger the sustainability of public finances in the long run.

“If we do not cap the retirement age, children born this year will retire at the age of 71,” said Robert Fico, leader of Smer and former prime minister, after negotiating the capping of the retirement age with trade unions and Labour Minister Ján Richter on May 16. “We cannot simply accept this.”

They agreed that men and childless women should retire at the age of 65, women with one child at 64 and women with two and more children at 63 years.

Now parliament members for Smer will prepare a respective constitutional law and submit it to parliament by the end of next week for the deputies to deal with it at the June parliamentary session. So there will be an entire summer for discussion, said Fico. If adopted, it should become effective as of 2019.

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Get daily Slovak news directly to your inbox

Top stories

News digest: What Jankovská said and Kollár goes home amid scandal

Nationwide testing put on hold. Speaker of parliament received visitors in hospital despite a ban. Foreigners' Police change office hours around Christmas.

Speaker of Parliament Boris Kollár

Jankovská admitted to her relationship with Kočner. She also mentioned Fico

Former state secretary of the Justice Ministry started cooperating with the investigators after months in pre-trial custody for corruption-related crimes.

Monika Jankovská

Pass a Slovak language dictation so you can work with foreigners

The draft migration policy proposal is out. Where does a foreigner find the official, certified list of cultural realities and traditions they are supposed to respect?

Some problems with the Foreigners’ Police continue.