Tuesday, 25 September 2018

Government approves pension indexation by CZK 475

26 September 2017

Prague, Sept 25 (CTK) - The Czech government decided on Monday that the average monthly old-age pension would rise by 475 crowns as of January 2018, Prime Minister Bohuslav Sobotka (Social Democrats, CSSD) has tweeted.

The pension indexation reflects both the price and pay rise in the country.

The fixed part of the pension, the same for all pensioners, will increase from 2550 to 2700 crowns.

The variable part of the pension calculated on the basis of the years at work and the sum paid in social insurance will rise by 3.5 percent.

The pension bonuses for resistance fighters and the families of the deceased ones will also increase by 3.5 percent.

The draft decree was worked out by the Labour and Social Affairs Ministry.

Along with old-age pensions, disability as well as widow's, widower's and orphan's pensions will rise.

As of the end of June, the Czech Social Security Administration paid old-age pensions to almost 2.4 million people in the Czech Republic with a population of 10.5 million. The average pension was 11,807 crowns.

Moreover, 425,400 people received disability pensions and 71,400 adults and children were paid widow's, widower's and orphan's pensions.

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