The year 2025 will bring not only higher prices for food and services, but also difficulties for Slovak pensioners. Despite the planned valuation of pensions by 2.1%, reality shows that inflation can reach up to 4.4%. The result will be a real decrease in pensions by up to 2.3%. How to prepare for these changes?

Prices of food and services: The biggest culprits of inflation

According to analyst Marek Gábriš from ČSOB the main reason for the increase in prices is the increase in taxes and the lack of employees, which puts pressure on the increase in the prices of services. In addition, food prices will continue to rise, which will especially affect low-income households and pensioners.

While the energy price freeze may moderate some costs, it will have only a minimal impact on overall inflation.

Valorization of pensions: Why is it not enough to cover inflation?

Slovak pensioners will improve in 2025 by 2.1% as part of the valorization basic retirement pensions. However, this is not enough, since average inflation can be up to 4.4%. A real decline in pensions of 2% to 2.3% means that pensioners will buy less with their money.

How can retirees ease financial pressure?

  1. Pay attention to expenses: Careful budget planning helps reduce unnecessary costs.
  2. Use of discounts: Looking for senior deals and benefits can help you save.
  3. Contributions from the state: Find out about available benefits or subsidies for housing and energy.

Inflation in numbers: How fast are prices rising?

According to the Statistical Office of the Slovak Republic, in November 2024, prices for pensioners increased year-on-year o 2,8 %. Compared to other groups of households, this is a lower number, but with insufficient valuation, it still means a worsening of the financial situation.

What can Slovak pensioners expect?

The year 2025 will bring new challenges, especially for seniors on a tight budget. Higher prices and low valuation of pensions will put pressure on their financial stability. Preparing for these changes and managing money effectively can help you get through a difficult time.

All retirees must know this: How to earn extra, but not lose your pension!