Introduction of a minimum pension in Slovakia

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The newly approved minimum pension in Slovakia is provided to people who have reached retirement age in order to ensure that they have a sufficient level of income and do not depend on the minimum income scheme. Although the amount is set above the subsistence level and depends on the number of insurance years, it remains rather low. The disadvantaged status of persons investing in the second pillar (mandatory, privately managed pension saving scheme) is an object of discussion and critique.

Author: Daniel Gerbery