Average pension to rise to CZK 19,500 in January

The government plans to raise pensions by CZK 825 in January to an average monthly total of CZK 19,500, Czech Radio reported on Monday citing the Ministry of Labour and Social Affairs. The increase should see the average pension be equivalent to 49.5 percent of the average wage in the country, the ministry states.

The proposed increase should see pension expenditures rise by CZK 82 billion in 2023, when compared to this year. There are currently 2.84 million people in Czechia receiving old-age, disability, or widower’s pensions.