Pensions to increase in 2020
Pensioners in the Czech Republic will see an increase in their monthly old-age pensions by 6.7 percent on average, which amounts to around 900 crowns, as of January 2020.
The hike is higher by about 200 crowns than the increase that the pension law would normally allow, based on salary growth and inflation. It is the second hike in succession as the government strives to bring pensions faster to a higher level.
The Social Democrats of the ruling coalition, who hold the Labour and Social Affairs portfolio, say they want pensions to reach 50% of the average wage by the end of the government’s term in 2021.