Working Children Could Send Nearly 70 Million Euros to Parents Through Tax Donations

Slovakia's tax donation system could transfer nearly 70 million euros from working children to their parents, replacing the previous parental pension scheme. Under the current two-percent tax donation mechanism, taxpayers can designate a portion of their income tax to specific recipients, including family members. This arrangement has effectively substituted the earlier system where parents received direct pension support from their working children, shifting the financial assistance mechanism from mandatory pension contributions to voluntary tax designations.