The pension calculator can be a great helper in your investment decisions. Thanks to the power of mathematics, statistics and artificial intelligence, it will allow you or your clients to "get to know tomorrow" and find out what pension awaits you in 20 or 30 years.
The calculator is easy to use. You will get the most accurate results if you find your account statements in the second and third pillars and enter the amount saved in the calculator. But the calculator works even without entering data from the account statement. Algorithms can estimate the amount of future pensions quite well on the basis of data such as age, wage, fund and number of years in the pillar.
1. Enter your current age and gross monthly salary. If you are a self-employed person, enter the height of the measuring base.
2. Enter the number of years of pension
You will receive a lifelong pension from the social insurance company. You can choose the number of years of receiving the pension from the II, III and IV pillars. Think about how many years you want to receive pensions from the second 3rd and 4th pillars. The fewer years you receive, the larger the monthly amount of your pension. In Slovakia, men live in retirement on average for 16 years and women for 20, while life expectancy in old age is still increasing.
3. Enter the number of years you have already been in Pillars II and III.
If you have a second-pillar account statement on hand, enter the amount you have saved. If you do not know the account balance, leave zero in the box. The algorithm estimates the amount based on age, wage, and number of years.
4. Select Fund II. the pillar in which you save.
5. If in IV. pillars you do not invest yet, leave zeros in this part.
6. Press "I will calculate your pensions from the four pillars" and get to know your pension calculation, read the personal analysis and find out what recommendations our artificial intelligence will give you.
7. Return to the beginning of the calculator. Based on the recommendations, for example, change the fund in II. pillars on the index.
8. Fill in the numbers in IV. pillar. Find out how much your pension will improve if you invest once or start saving regularly in IV. pillars.
Tip: Play with a calculator until you find the perfect combination for your future.
The calculator wants to be a practical navigator and advisor who will allow a person to look into their future with a reasonable degree of accuracy and help them make decisions. If this calculator does nothing but open the user's eyes and allow him to think about today's consumption compared to a person's income in retirement, I will be glad that I made this calculator.
The four-pillar calculator uses and takes into account data from several models. The main ones are the demographic and macroeconomic model.
At the same time, it works with a degree of uncertainty, especially as regards the modeling of future policies. We do not know what politicians will do to us in the future, but we are quite familiar with the barriers from which they cannot deviate, because it would help them in the electoral votes or in the country's economy.
Of course, the calculator goes back to the past and takes into account all the tax and levy principles that have changed over time, have influenced and still affect the pension system in Slovakia.