Novinky: Juchelka (ANO) plans pension age cap at 65 with costs up to CZK 127bn

Minister of labour and social affairs Aleš Juchelka (ANO Party) wants to fast-track a bill raising pensions and capping the retirement age at 65. According to Novinky.cz website, the proposal would restore indexation to inflation plus half of real wage growth and increase benefits for working pensioners. According to ministry estimates, the changes could cost up to CZK 127 billion annually over time. The retirement age cap alone would mean long-term spending of around 0.8 to 0.9 percent of GDP each year. Economist Filip Pertold warned the plan would require higher taxes, more debt or spending cuts elsewhere. Former minister Marian Jurečka (KDU-ČSL) also criticised the proposal.