STA, February 19, 2018 – Pensions will increase by 2.2% effective as of January, in what is the first of two rises planned for this year, the council of the Pension and Disability Insurance Institute (ZPIZ) decided on Monday.
Slovenian pensions are indexed at the start of each year according to a formula that factors in average pay and average inflation.
This is the first full increase in pensions since 2010 since indexation was limited in the intervening period by austerity measures.
The cost of the indexation will be 108 million euro annually, ZPIZ told the STA.
A second indexation is planned for spring, when pensions are set to rise by 1.1% in accordance with an agreement reached by coalition partners.
There are about 616,000 pensioners in Slovenia, with an additional 44,300 receiving disability benefits financed by ZPIZ.