Monday, 27 May 2019

Babiš: Czech pension account to be set up in 2020

12 March 2018

Prague, March 11 (CTK) - A special account from which Czech pensions would be paid out should be set up in 2020 and a pension reform should be implemented by then, Prime Minister Andrej Babis (ANO) told the public Czech Television (CT) on Sunday.

"We want to set up the account so that it is apparent how much money is collected for pensions," Babis said.

He said the Czech pension account should have been set up a long time ago.

Babis said this should have been done, for example, after the state sold the gas transmission system operator Transgas for 135 billion crowns under prime minister Milos Zeman (in office 1998-2002), but this huge sum, which the state received and could have used for pensions, disappeared somehow.

He said the pension reform should include supplementary pension insurance from companies that is standard in Europe.

Last week, the government proposed the rise in pensions of people aged over 85 as of next year.

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