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OECD Reviews of Labour Market and Social Policies: Slovenia 2009

image of OECD Reviews of Labour Market and Social Policies: Slovenia 2009

This report analyses the main challenges for labour market and social policies in Slovenia and considers the available policy options from the perspective of OECD countries' experience. It finds that Slovenia has one of the most equal income distributions in the world and a tradition of social dialogue. However, its unemployment insurance and employment service system are not sufficient to deal effectively with the present economic crisis and the country is also faced with rapid population ageing and a low employment rate among 55-to-64 year olds. This report makes recommendations to deal with these issues.

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The Slovenian Pension System's Reform Process

The Slovenian Pension System’s Reform process Slovenia has been reforming its public earnings-related pay-as-you go pension pillar since the early 1990s. In 1999 an important reform programme has been approved by the government and is to be phased in by 2024. Key reforms included increasing the pensionable age, lowering pension entitlements and lengthening the calculation of the pension base. Most importantly, it introduced the second private pension pillar, a fully funded collective and individual voluntary supplementary pension scheme. Nevertheless, in light of the rapid population ageing in Slovenia, financial sustainability of the system is challenged and further reforms appear necessary. The effective retirement age, even though increasing, remains low especially for women, as well as incentives to postpone retirement. Moreover the supplementary scheme does not manage to compensate for the loss of pension income resulting from the reforms in the public pension scheme. This chapter will describe the Slovenian pension reform process, point out the main issues and discuss the challenges for future pension policy.

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