<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The aim of the authors is to provide a critical statistical-analytical view of the current pension system of the Slovak Republic with special regard to old -age pension savings in its fifteen-year existence, resulting in proposals for adjustments to its operation. It includes an analysis of the sustainability of pension systems, an analysis of the age distribution of savers as well as possible investment strategies of savers and the distribution of their property savings in pension funds. We model the investment strategy of a participant in old-age pension savings. We draw attention to the evaluation of old -age pension savings in pension funds during its existence and quantify the potential loss caused by an inappropriate investment strategy of savers. The an alysis showed that the Slovak participant in old-age pension savings invests mainly in conservative pension assets, which bring low volatility in the short term, which may not be optimal in the long run. In order to achieve change, we also outline the possibilities of changing the attitudes of savers to value their savings and propose reform steps that would contribute to ensuring a balance between the financial and social sustainability of the pension system.</p>
</abstract>

The aim of the authors is to provide a critical statistical-analytical view of the current pension system of the Slovak Republic with special regard to old -age pension savings in its fifteen-year existence, resulting in proposals for adjustments to its operation. It includes an analysis of the sustainability of pension systems, an analysis of the age distribution of savers as well as possible investment strategies of savers and the distribution of their property savings in pension funds. We model the investment strategy of a participant in old-age pension savings. We draw attention to the evaluation of old -age pension savings in pension funds during its existence and quantify the potential loss caused by an inappropriate investment strategy of savers. The an alysis showed that the Slovak participant in old-age pension savings invests mainly in conservative pension assets, which bring low volatility in the short term, which may not be optimal in the long run. In order to achieve change, we also outline the possibilities of changing the attitudes of savers to value their savings and propose reform steps that would contribute to ensuring a balance between the financial and social sustainability of the pension system.

Reality and expectations of old-age pension savings in the pension system of the Slovak Republic

Review of Economic Perspectives

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The aim of the authors is to provide a critical statistical-analytical view of the current pension system of the Slovak Republic with special regard to old...

Reality and expectations of old-age pension savings in the pension system of the Slovak Republic

Published Online: Dec 30, 2021

Page range: 411 - 436

Received: Dec 08, 2020

Accepted: Sep 24, 2021

DOI: https://doi.org/10.2478/revecp-2021-0018

Keywords
demographic change, financing of pension systems, pension system, social security

© 2021 Peter Sika et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Reality and expectations of old-age pension savings in the pension system of the Slovak Republic

Published Online: Dec 30, 2021

Page range: 411 - 436

Received: Dec 08, 2020

Accepted: Sep 24, 2021

DOI: https://doi.org/10.2478/revecp-2021-0018

Keywordsdemographic change, financing of pension systems, pension system, social security

© 2021 Peter Sika et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
demographic change, financing of pension systems, pension system, social security