Christmas Allowance as a Non-System Tool for Sustainability of Quality of Life of Slovak Seniors

Abstract

Creating conditions for a sustainable level of quality of life for older people is considered the dominant priority when setting up the pension system with an emphasis on the income situation of Slovak seniors for old-age pensions. An old-age pension as a systemic benefit is an important element in maintaining the quality of life of older people. The amount of old-age pensions is currently at the center of discussions between institutions and the Government of the Slovak Republic. A major social but also economic problem in the coming decade will be how to maintain the income of older people, pensioners, needed to ensure their sustainable quality of life. In particular, it is necessary to ensure that pensioners receive sufficient income so that they do not become a population at risk of poverty as the groups at risk of poverty or social exclusion also includes people over the age of 65. The paper focuses on the analysis of the socio-economic situation of Slovak pensioners in the Slovak Republic in connection with material deprivation. At the same time we analyze the Christmas contribution as a non-systemic benefit which, on the one hand, has a positive social impact on the recipients of pension benefits who are entitled to the Christmas benefit but, on the other hand, has a negative impact on the general government budget.