Pensions may rise by more than €8 next year

From next year old age pensions could be increased by a fixed amount which is not linked to inflation, according to a proposal of the Labour Ministry. In the words of Minister Jan Richter (Smer-SD), the changes might result in a pension increase of more than €8 per month as of next year. "The final proposal is a question of the very near future. It will be discussed mainly with the Finance Ministry in a legislative procedure and, of course, the motion has to be agreed by the coalition partners. My ambition is more than 2 percent, regardless of future inflation, which would mean more than €8 per month. Although negative inflation last year brought a positive result for consumers, it caused a lower increase in pensions. As a result, the valorisation of pensions stood at €1.9 in 2016," said Richter.