“Government Presents Pension Reform to Ensure Viability of System”

Alongside its program to reduce state spending, the government also presented its reform of the pension system. The retirement age should in future be set again according to the evolution of life expectancy each year for people aged 50 years. The guaranteed pension should correspond to 20% of the average salary and the new pensions should be slightly lower than the current pensions, according to the reform presented by the Minister of Labor, Marian Jurečka (KDU-ČSL).

Savings with a state contribution should provide part of the income during retirement. The contributions of the self-employed could be gradually increased. The reform aims to reduce the indebtedness of the pension system and ensure its viability, according to the Minister of Labour.