Experts meet on pensions reform

A team of experts charged with mapping out a model for reforming the Czech pensions system met for the first time on Wednesday. The team put together by the Ministry of Finance is expected to come up with reform options in May. Politicians should join the team following lower house elections due in the second half of May.

The Czech Republic has so far taken no radical steps to reform a pensions system which faces serious problems with a sharply falling ratio of working people to retired over the next decades. Economists have highlighted this as a weak point. In 2014 it is estimated there will be more retired people than children in the Czech Republic.