www.fs-rs.si / News / News / Fiscal Council warns against adopting anti-corona legislation measures that will worsen the structural position of public finance
Published: 12/22/2020

Fiscal Council warns against adopting anti-corona legislation measures that will worsen the structural position of public finance

Due to the changing demographic structure, the long-term sustainability of public finance in Slovenia is exposed to many risks. The amendments to the pension legislation adopted in 2019 only led the situation to deteriorate, while appropriate compensatory measures have not yet been adopted. The proposal of the seventh anti-corona package (ACP7-PKP7 in Slovene version) contains a provision on the possibility of facilitating the termination of employment contracts of persons who fulfil the conditions for entitlement to an old-age pension. Such measures could contravene the requirements to ensure the long-term sustainability of public finance and the tendency to prolong the employment of older workers, as the increase in life expectancy in conjunction with the same retirement age worsens the ratio between contributions and expenditure of the pension fund. Maintaining a predominantly public pension system that sufficiently protects pensioners therefore requires constant adaptation, with the extension of working life being among the least painful solutions for both pensioners and employees paying contributions. The ACP7 also includes several measures to resolve the existing issues of certain groups, which should be tackled with sustainable solutions rather than with one-off expenditure.

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