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Analysts: Pensions in Slovakia Don't Reach Half Gross Average Salary
Tuesday 06 April 2010 Zoom in | Print page
Bratislava, April 6 (TASR) - Over the long-term, the average pension in Slovakia hasn't reached even half the average monthly salary in the national economy, analyst Radovan Durana of the INESS institute told TASR on Tuesday.
In 2009, for the first time for the past five years, the average monthly pension (€337) slightly exceeded 45 percent of the average monthly salary (€744.50).
Analyst Vladimir Vano of Volksbank Slovakia pointed out that calculating pensioners' income only from the pensions they receive from the state is inaccurate; many pensioners, for example, have extra incomes from real estate rentals.
Durana, for his part, noted that comparing the average pension with the average salary is useless. "It makes some sense only to compare the (average) net salary with the average pension, as pensioners don't pay any taxes or deductions," said Durana, pointing out that the average pension thus reached 57 percent of the net salary last year. Moreover, the pensions that were adjudged in 2009 reached as much as 80 percent, he said.
At the same time, Durana stressed that the amount of pensions should reflect not only the needs of seniors but also the ability of the working public to finance them. "Look at Greece, where the (pensions) exceed 100 percent of the average salary," he suggested.
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