Can foreigners claim old-age pension in Slovakia? How much is it?
You can receive old age pension payments if you fulfil 2 important conditions.
☝️ You must have been a member of a pension scheme for at least 15 years.
This means making pension contributions for at least 15 years. You can make payments by being:
• an employee,
• undertaking or
• by a voluntarily insured person.
The 15 years also includes periods of social insurance in states subject to EU regulations. And in those countries with which there was a bilateral social security treaty.
☝️ You have reached retirement age (age 64).
There are also a number of conditions that allow the retirement age to be lowered.
📍 For 6 months for each child raised. However, may be reduced by a maximum of 18 months.
📍 There are labor grades that imply earlier retirement after working a certain number of years.
And there is the possibility of receiving early pensions (in this case the amount is slightly lower). For example, those who have lost their jobs and who have no more than 2 years left before reaching retirement age, or who already have at least 40 years of service with pension benefits, are eligible.
💰 In 2023, the average pension in Slovakia is 577 €. But now pension reform is actively underway with a number of important changes. Pension valorization has been launched since January this year. There are new amendments from May, too. But that’s an excuse to write a separate article.
