BRATISLAVA, January 26, (WEBNOVINY) — With regard to life expectancy and the period of drawing retirement benefits, increasing the retirement age to 62 in Slovakia is sufficient for now. This stems from an analysis of long-term sustainability of the pension system, elaborated by the Ministry of Labor, Social Affairs and Family. When comparing OECD countries, where retirement age of 65 prevails, the retirement age in Slovakia is among the lower ones. In 2009, the retirement age for men was 65 in 24 countries and lower in six countries, including Slovakia. In the case of women, the retirement age for women in Slovakia was 57.5 (a woman that had two children), which was the lowest among all OECD members.
According to the ministry, comparing the retirement age in different countries provides only partial information about the system. The decisive indicator is the duration of receiving the pension, which takes into account also life expectancy. The average length of the retirement period for men in OECD countries is 17.5 years, which was 16.3 in Slovakia in 2009. For women, the OECD average was 21.9 years, which was 25.1 in Slovakia. By gradually increasing the retirement age to 62, the difference will become smaller and close to the OECD average, the ministry adds.
At present, the retirement age is increasing to 62 years. The retirement age for men was gradually increased from 60 to 62 as of 2008. In the case of women, the retirement age has been increasing, depending on the number of raised children, from the original 53-57 to 62 by 2024. After that, the number of raised children will not influence the retirement age, and will be equal for both men and women.
SITA
