GN 01753.010 Overview of the Slovak Social Security System
The Slovak social insurance system provides old-age, early retirement, survivors, orphans, and disability benefits. The Slovak system is a three-pillar program:
The first pillar is a mandatory defined benefit pension financed on a pay-as-you-go basis.
The second pillar is a fully funded system with contributions invested in individual pension funds.
The third pillar is a voluntary tax-deductible savings arrangement for employers and their employees.