When will it be paid 14. Pension

In 2024, the 14 will not be paid. pension as it was in December 2022. The Government is not yet considering any special indexation of pensions for 2024.

Pensions in 2024 were indexed in two steps:

• From 1. January 2024: Pensions granted before 2024 increased by 3.6% and those granted in 2024 by 14.5%.
• From 1. July 2024: All pensions increased by an extraordinary 5.22%.

Thanks to these two valorisations, pensioners in 2024 had their pensions significantly increased.

However, it should be noted that the situation may change during 2024. If there is an unforeseen rise in inflation, the government could consider an extraordinary indexation of pensions also in 2024.

When pensions are paid

Pensions in Slovakia are paid in advance in regular monthly instalments.

The pension due date is determined by the Social Insurance Institution for each pensioner individually.

Pensions are usually paid on the following dates:

• Retirement pension: 20. 20th day of the month
• Early retirement pension: 20. day of the month
• Disability pension: 20. 20th day of the month
• Widow’s and widower’s pension: 20. 20th day of the month
• Orphan’s pension: 20. 20th day of the month

If the pension due date is a public holiday or weekend, the pension is paid on the next working day.

The pension can be paid in different ways:

• To the pensioner’s bank account: This is the most common way to pay your pension. The pensioner can choose any bank in Slovakia.
• In cash: the pensioner can withdraw his pension in cash at a branch of the Slovak Post.
• Spouse‘s account: the pensioner can request that the pension be transferred to his/her spouse’s account if the spouse agrees.
• To the account of a special recipient: The pensioner can request that the pension be transferred to a special recipient account if he or she is unable to collect the pension himself or herself.
• To a social services facility: a pensioner who is placed in a social services facility can apply for a pension transfer directly to the facility.
• To a detention or custodial institution: a pensioner who is in custody or serving a sentence can apply for a pension to be transferred to an institution.
• On behalf of the Order: a pensioner who is a member of the Order may request that his pension be paid into the Order’s account.