Thursday, 18 June 2020

Average monthly pension was CZK 11,850 in late 2017

20 April 2018

Prague, April 19 (CTK) - A total of 2.4 million people in the 10.5-million Czech Republic were old-age pension recipients at the end of 2017, and the average monthly pension was 11,850 crowns, according to the Czech Social Security Administration (CSSZ) data CTK has at its disposal.

The average pension of men was 13,076 crowns and of women 10,758 crowns.

Only one tenth of pensioners saw their pension cross 14,995 crowns, while a half had pensions lower than 11,731 crowns.

The average pension was the highest, 12,646 crowns, in Prague, and the lowest, 11,496 crowns, in the Olomouc Region, north Moravia.

The average gross monthly wage was 31,646 crowns in late 2017.

The Chamber of Deputies passed a government-sponsored reform of the pension calculation method in the first reading on Thursday, which, if passed definitively, would not accelerate the growth of pensions, however.

On the contrary, it will slow it down for many people by weakening the role of the sum they had paid in pension insurance fees and strengthening the elements of equalisation in the pension calculation method.

The reform is to improve the pensions for people in poorer regions, mainly women.

In addition, the relevant bill raises the monthly pensions for all people above 85 by 1,000 crowns as a measure to compensate these people who retired 30 years ago with far lower pensions than those going to new pensioners now. Although their pensions were adapted in the meantime, they are still low compared with new pensions.

This January, the CSSZ paid pensions to 197,007 people over 85.

Copyright 2015 by the Czech News Agency (ČTK). All rights reserved.
Copying, dissemination or other publication of this article or parts thereof without the prior written consent of ČTK is expressly forbidden. The Prague Daily Monitor is not responsible for its content.