The Slovenia Times

Pension Reform Stepping into Force on Tuesday


Men and women are to get the right to a full pension when they turn 65 and have at least 15 years of pensionable service.

Under the pre-reform system, women are eligible for full pension at the age of 63 or with 38 years of pensionable service at the age of 58 years, while men are eligible for full pension at the age of 65 or with 40 years of pensionable service at the age of 58.

But data for 2010 show that Slovenian men in fact retire at an average age of 61 and nine months and women at 58 years and five months.

For retirement on the basis of years of service, the transition period of the reform is until 2017 and until 2018 for full age retirement.

The retirement age may be lowered, taking into consideration the care for children, years of military service and work before turning 18.

The reform also extends the basis for pension calculations from 15 best-paid years of service to 24 best-paid years. Men will be eligible for 57% of average pay during that period and women for 60%.

Bonuses will be given to those who continue to work after meeting the retirement criteria. The pension will be up to 12% higher for those who stay on the job for up to three years longer than necessary.

Moreover, those who continue to work will be eligible for 20% of the pension they would have received had they retired in addition to their salary.

Provisions have also been included in the pension reform that encourage self-employment, employment of first job seekers, older people or women with young children.

In 2013, pensions are to be harmonised with the wage growth in Slovenia, and are to increase by 0.5%, but the funds paid for this by the pension purse are not to exceed EUR 50m.

In the years to follow, pensions are also to be harmonised with inflation along with wage growth in a 40-60 ratio.


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