Czechs spend on average 24 years, 7 months in retirement

The average time spent by Czechs in retirement has increased by about three years and five months over the past 20 years. It now stands at nearly 24 years and seven months, according to an annual study by the Czech Social Security Administration released on Saturday.

The main reason is that Czechs are living longer. Last year, the average retirement pension was paid for nearly 19 and four months to men and 28 years and seven months to women.

Under the government plans, the retirement age could by raised by around a month a year in the future. Currently, it rises on average by two months each year for men and four months for women.