Pensioners will be paid their 13th pension to help them rise in price! In what SUME?

Illustrative image for the article Pensioners will be paid the 13th pension to help them rise in price!  In what SUME?

The aim is to help with the current increased financial costs caused by rising prices.

The aim is to help with the current increased financial costs caused by rising prices.

Illustrative image for the article Pensioners will be paid the 13th pension to help them rise in price!  In what SUME?

Pensioners will be paid their 13th pension in full earlier, in July this year. The amendment to the Act on the 13th Pension from the workshop of coalition deputies Jozef Lukáč and Miloš Svrček (both We are a Family), which was approved on Wednesday by the Plenum of the National Council (NR) of the Slovak Republic, provides for this. 96 of the 127 Members present voted in favor of the proposal.

High prices

In the explanatory memorandum, MEPs pointed out that the currently effective valorisation mechanism for pension benefits takes into account the rise in consumer prices for pensioners’ households in the first half of the previous year. In 2022, pension benefits were increased by 1.3% through this mechanism.

However, they noted that the development of consumer prices recorded a significant year-on-year increase, especially in the second half of 2021 (on average 4.6%), in January 2022 inflation for pensioners’ households reached a year-on-year value of 9.1%.

“The increase in pension benefits in January 2022 thus lags significantly behind inflation in the second half of 2021 and in January 2022, thus reducing the ability of pensioners to pay for their goods and services.” the applicants pointed out.

How much will they get?

Originally, MEPs proposed to pay pensioners the amount of the 13th pension in July this year, in principle at half its amount. However, the Ministry of Labor recommended paying the 13th pension in July, not in half, but in full.

Entitlement to the 13th pension will no longer arise in November 2022.

The amount of the 13th pension will remain unchanged. The maximum amount is 300 euros for pensioners with the lowest income and the lower limit for the payment of the 13th pension, calculated according to the income-dependent formula, is set by law at 50 euros. The amendment to the law is to take effect on June 1 this year.

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Source: TASR

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