Pensions are rising fast

The average old-age pension was €644 in September, up from €517 a year ago. After the next hike in January, it will be €667, up 29% annually. Thus, the social insurer SP spending on pensions for the ten months of this year rose by 24% annually to €8.6bn, also due to high inflation in 2022-23. Pensioners are among Smer's voter base, and pensions are a priority despite the poor long-term sustainability of public finances.

(sme.sk)