Home » Data without pathos: Thirteenth pension? We also borrow for the twelfth | Economy | .a week

Data without pathos: Thirteenth pension? We also borrow for the twelfth | Economy | .a week

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Data without pathos: Thirteenth pension?  We also borrow for the twelfth |  Economy |  .a week

we like to illustrate complex things simply. A social insurance company works similarly to a household:

Household expenses 2023:

Every month you have expenses of €950. In a year it is equal to €11,400.

Where to take it?

Household income:

You can earn €884 every month, you can’t give more. You will earn exactly €10,600 in a year. You found out that you have a gap of €1,350 between income and expenses in the household in 2023. You have a deficit, you don’t have enough current income. You don’t even have enough for regular monthly expenses, you lack €800 in December and you also ordered gifts for €550. Over the past years, you have saved a total of €1,050. You decide to use the piggy bank (reserve) and take €200 from it. You won’t tell anyone and you’ll return only €850 to the “savings for bad times” box. You’ve slightly reduced the hole-deficit, it’s no longer €1,350 but only €1,150. Still a lot. You don’t even have enough to cover the entire December expenses, and certainly not for the ordered gifts. You call the godmother, who has already helped you in the past, and she will help you with the necessary amount: she will transfer/donate you €1,150. The godmother’s problem is that she takes the money she had to borrow from a “lending office”.


The household is the Social Insurance Company Income is contributions to the Insurance Company Expenditures are pensions, PN/ОČR benefits and unemployment benefits The reserve is SP reserve funds The difference between income and expenses is the Social Insurance Company’s management deficit Gifts are the thirteenth (13th) pension Godmother is the state budget Loan shop are financial markets A gift from the godmother there is an increase in Slovakia’s debt and it is necessary to pay interest of 4% per year. The household has a deficit of €1,350, but Social Insurance is a million times more: €1.35 billion in 2023.

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When asked how Sociálna poisťovňa managed its economy, State Secretary Branislav Ondruš will answer that with a deficit of €200 million. Mr. Ondruš will conceal the €1.15 billion borrowed and transferred from the state budget.

To the question of whether the state has pensions and a full 13th pension, Mr. Ondruš answers: it was a bit lacking, we gave it from reserves. He keeps silent that he was not even on the 12th pension and that he was not on the thirteenth at all.

Minister Erik Tomáš has similar views and the same answers as his state secretary.

The gentlemen from Smer-Hlas-SNS fulfill their pre-election promises. They are the followers, followers and admirers of the Bolshevik-Communist practice:

they give money from abroad, they don’t understand finance and economics, they get into debt and ruin the state, they impoverish the country, they don’t know how to tell the truth and get lost in lies

The worst thing is that no journalist knows how to ask them clearly, ask a simple question, insist on a truthful answer, confront them with reality!

The misery of Slovakia and proof of its decline is also the fact that not even an opposition politician can do it. Many even cooperated with the current and past governments in approving laws and supported their nonsensical proposals. Honor the exceptions.

what happens?

No, the country will not go bankrupt. But we will gradually pay high billions in interest for the debts that are growing for us and that we are not using for investments and the good of the country. We spend all the debts on pre-election promises, on benefits and pensions, on the salaries of bureaucrats in the state, on aid and consumption incentives.

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And we pass off the growing state and household consumption as GDP growth and celebrate it as a parameter of happiness.

We will end up like Greece, we will be bailed out by the EU/ECB/IMF/EBRD, pensions and benefits will be reduced, weakened, some abolished, people from the public administration will be fired, the state will collapse and we will collapse. And it won’t take long either.

If you found an error, write to [email protected].

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