MPs vote to raise retirement age

Czech MPs voted on Wednesday to raise the retirement age in the Czech Republic to 65 years of age. Labour Minister Petr Nečas said the move was necessary in the face of an ageing population, with a higher life-expectancy rate. Previously, the retirement age was 62 for men, and 61 for women. Deputies also moved to raise the number of years that Czechs are required to make payments into a pension fund from 25 to 35 years. The bill still has to be approved by the Senate and President Václav Klaus. If passed, the new laws should come into effect by 2031.