Only 1 in 10 Workers in Slovakia Has Calculated Their Estimated Future Pension. That’s a Mistake, Says Expert
People in Slovakia would ideally like to retire as early as the age of 60. However, the reality of financial preparation for retirement often does not match this wish. This is confirmed by the results of an international survey conducted by the NN Group.
Today, we live on average 20 years longer than our grandparents. This means we spend more time in retirement and will need more financial resources to support it. Despite this, financial preparation for retirement in Slovakia is lagging behind. Only 11% of people have calculated the estimated amount of their future pension. Yet this calculation can be a key trigger for important decisions that significantly impact quality of life in old age.
The problem is not only the low level of personal planning, but also growing distrust in the state’s ability to provide pensions. Currently, only 64% of people trust the state in this area, representing a drop in institutional trust of 9 percentage points compared to 2023.
These factors contribute to an overall feeling of unpreparedness. Less than one-third (31%) of people in Slovakia feel prepared for a longer life. In an international comparison of five European countries – Slovakia, the Czech Republic, Belgium, Greece, and Spain – Spaniards appear to be the most prepared (56%), while Slovaks rank at the bottom. This is based on the latest, fourth edition of NN Group’s longevity survey.
Fewer Than One in Five People Can Afford What They Want
Weak financial preparedness is all the more paradoxical given the relatively high rate of home ownership in Slovakia. Despite this, many households struggle on a daily basis to make ends meet, lack financial reserves, and do not engage in systematic retirement planning.
The financial well-being index in Slovakia reaches only 4.6 out of 10 points, and everyday reality reflects this:
- 17% of people are satisfied with their current financial situation
- 19% can afford to buy what they want
- 26% have money left at the end of the month
- 22% could cover a large unexpected expense
- 22% have no savings at all
- 18% would be able to cope for less than three months in case of complete loss of income; those with at least three months of savings feel significantly better prepared for unexpected situations
The outlook for the future is also concerning. Only three out of ten people in Slovakia believe that if they live beyond the age of 80, they will have sufficient financial resources to sustain themselves.
Decline in Living Standards in Retirement Also Affects Today’s Seniors
The consequences of insufficient preparation are already being felt by today’s retirees. Almost half have had to adapt to a significant drop in income, and an even larger share report that their financial situation does not match their pre-retirement standard of living. As many as 70% of working Slovaks aged over 55 are considering continuing to work at least a few hours per week even after retirement – the highest proportion among the five countries surveyed.
“People in Slovakia are aware that a longer life requires better preparation for retirement, but there remains a significant gap between awareness and concrete action. That is why we have long emphasized the importance of addressing retirement planning as early as possible,” says Martin Višňovský, Member of the Board of NN Slovakia and President of the Association of Supplementary Pension Companies.
It is important to note that your future pension is not determined only by the number of years worked or your income level. You can also significantly influence it through the choice of pension funds in the second and third pillars, or by adjusting the amount of your contributions. “For example, increasing contributions to the third pillar by even a few dozen euros per month can, for young savers, result in a difference of several hundred euros in their future pension,” adds Višňovský.
In this context, a crucial step is gaining a clearer picture of your estimated future pension. Tools such as NN’s three-pillar pension calculator can help—not only calculating the pension amount but also showing how changing a pension fund or increasing contributions can boost retirement income.
SOURCE:
The international NN Group Longevity Survey 2025 was conducted by the research agency Indiville via an online questionnaire across five European countries: Slovakia, the Czech Republic, Belgium, Greece, and Spain. The sample consisted of 5,119 respondents, including 1,018 from Slovakia. Data collection took place between September 29 and November 4, 2025. This was the fourth wave of the ongoing survey (previous waves: 2021, 2023, 2024)
