Coalition approved pension reform

The constitutional amendment MPs approved on Wednesday also reforms the pension system. It eliminates the pension age cap of 64 years, with pension age depending either on age or years worked. The amendment foresees the adoption of a parental bonus (parents’ pensions will depend on payroll levies paid by their children). Parental leave should not reduce pensions. Details of the above changes will be set by legislation yet to be prepared by Labor Minister Milan Krajniak (Sme rodina). Pension experts as well as RRZ condemned the parental bonus that could substantially hurt the sustainability of the pension system.

(trend.sk)