21. January 2004 at 09:28

Old-age pensions up 4 percent

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Old-age pensions will rise 4 percent as of February 1. Deputies decided on this rise when they approved the old-age pension saving law vetoed by President Rudolf Schuster last year, news wire SITA reported.

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President Schuster is convinced that a 4-percent growth in old-age pensions is insufficient and demanded that the pensions be valorized by 6 or 8 percent.

Pensions should go up twice this year. As of December 1, old-age pensions should grow by a rate representing the difference between the average inflation and wage growth and the 4-percent pension valorization from February.

A law on social aid, which changes conditions for receiving aid and the amount of some compensatory contributions for citizens with serious health handicaps, was also adopted.

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

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