24th July 2015

Economic Policy:Zet:It is a mistake that debate on retirement security focuses solely on social insurance, says expert, University of Economics in Prague. Incl. Allianz 2015 Retirement Income Adequacy Indicator.


In June 2015, Czech President Zeman signed the act preventing new clients from entering the second pillar of the pension system. The pension reform of the Petr Nečas' government is dead. Click here to view an interview with the pension system reform expert of the University of Economics in Prague Marek Loužek. View also opinions of professor Jaroslav Vostatek, pension system reforrm advisor to the Minister of Finance Andrej Babiš, and economist Miroslav Zámečník.

Click here to read recently published proposal of pension reform that Minister Babiš decided not to submit...Read more.

View also Allianz's 2015 Retirement Income Adequacy Indicator where Czech Republic ranks 26th out of 49 countries examined, in the middle of CEE countries and overall. "The replacement rate is relatively high and due to the increase of the retirement age will even increase slightly. The funded pillar though is underdeveloped and a recently introduced new funded scheme will close in 2016 again. Low health expenses and an additional non-pension savings pot support Czech’s retirement income sources."

Members of the American Chamber of Commerce in the Czech Republic