The balance on the account for the compensation of the pension system deficits totalled CZK 22.6bn at the end of 2013. The information was provided by the Supreme Audit Office (NKÚ). According to the authority, the pension system generates a long-term deficit; the deficit was growing by an average of 12% p.a. between 2009 and 2013. Equal balance was not achieved through additional sources, totalling CZK 28.7bn in 2012 and CZK 25.8bn in 2013. According to NKÚ, the situation is unsustainable in the long run.
Source: www.cianews.cz
