Minister presents pensions overhaul

The Czech government unveiled an overhaul of the state old-age pension system on Thursday. Under the new approach laid out by the minister of labour and social affairs, Marian Jurečka, the pension age should be examined annually, according to the life expectancy of Czechia’s 50-year-olds. The guaranteed pension should correspond to 20 percent of the average wage and the new pensions should be slightly lower than pensions at present, under the reforms presented by Mr. Jurečka.

Expenditure on pensions is rising sharply and now amounts to 30 percent of the state’s outlay, the Czech News Agency reported.