Minimum pension – the amount I have to pay for a year to count towards my years worked

What is a period of pension insurance?

A period of pension insurance is a period for which pension insurance contributions were paid, and it is also counted towards the insurance period for calculating the pension.

Entitlement to a minimum pension?

When it comes to entitlement to a minimum pension, however, two periods of pension insurance need to be distinguished. All periods acquired before 1 January 1993 count in full towards the qualifying period of pension insurance.

Of the other periods acquired after 31 December 1992, depending on the insured person’s annual income (in other words, their annual personal assessment base), only the periods acquired in a calendar year for which the personal wage point was set at a value of at least 0.241 count towards the qualifying period of pension insurance, which means that the person’s earnings in that year were at least 24.1% of the average annual wage.

How much do I have to earn for a year to count towards my years worked for calculating the pension?

The monthly/annual earnings that the insured person must reach go up every year. The table below shows how the monthly wage that the insured person must reach has developed.

Source: Statistical Office of the Slovak Republic