Pensions to go up by 2 percent in 2017

Pensions in Slovakia will increase by at least 2 percent of the average monthly pension next year, according to an amendment to the law on social insurance greenlighted by Parliament at its session on Tuesday. Overall, pensions should increase by an average of €8.20 per month next year. The amendment to the law on social insurance will also increase the maximum social insurance base as well as the daily social insurance base. Moreover, Parliament approved another Labour, Social Affairs and the Family Ministry-sponsored amendment regarding Christmas bonuses. According to the changes to the law, pensioners with a pension not exceeding double the minimum subsistence level for an adult (€396.18 per month) are set to receive a one-off bonus worth €12.74 in addition to their regular Christmas bonus at the end of the year. The Christmas bonus - reaching roughly €100 if the aforementioned one-off bonus is included - will be allocated to more people this year than in 2015. The figure depends on the average salary in Slovakia. Every pensioner with a pension not exceeding €529.80 per month will be entitled to a Christmas bonus this year, while the figure set in 2015 was €514.80. Some 1.2 million pensioners will receive the Christmas bonus this time, while some 733,000 will also get the one-off bonus of €12.74.