despite the negative demographic curve, Slovaks are said to rely only on the state when preparing for retirement. In contrast to Western countries, such as the USA, old age pensions are still largely paid out of ongoing taxes. Although such a model is unsustainable in the long term, not even the idea of poverty after ending an active working life forces us to invest and prepare for old age.
the least amount of savings since the founding of the Republic
The results of the VÚB General Loan Bank’s research confirm this dark trend. “Citizens of Slovakia have been saving at least since 1995, i.e. since data from the so-called national accounts have been available,” say VÚB analysts Zdenko Štefanides and Michal Lehuta.
You can read the whole article if you buy a Digital subscription of .week. We now also offer the option to purchase joint access to .tježen and Denník N.
sign up to subscribe