Average monthly old-age pension set to rise by 900 crowns as of January

The government has proposed increasing the average old-age pension by about 900 crowns as of January 2019. The fixed component of such pensions, which is the same for all and now stands at CZK 2,700, would rise by 570 crowns. The component reflecting the amount the recipient paid into the system during their working years will rise 3.4 percent.

Prime Minister Andrej Babiš (Ano) has said the overall aim is to raise all pension levels – but first to help predominantly those pensioners now living at or below the poverty line. People with small pensions who retired years ago and those who earned less and therefore paid less into the social system will get a bigger hike; those who retired in recent years and have a higher pension would see a slower rise.