Survey: More than third of Czechs don’t understand how pension system works

More than a third of Czechs don’t know how the country's pension system works and only six percent understand the changes brought about by the pension reform, suggests a survey by the Ipsos agency, presented on Wednesday.

According to the survey, carried out among 1,000 respondents, almost three quarters of the population feel that the state doesn’t provide enough information about it. More than eight out of ten respondents said they were familiar with the functioning of the Czech pension system. However, only 65 percent answered the survey's test question correctly.

The pension reform is set to be debated in the Senate and then signed by the President. According to the survey, two thirds of Czechs are currently saving or investing for their retirement.