Czech president signs bill on pensions into law


13.08.2014 13:45

Prague - Czech pensions will rise according to the same rules as before austerity cuts introduced by the previous right-wing government as of next year again since President Milos Zeman signed an amendment to the law on pensions, Zeman´s spokesman Jiri Ovcacek said.


Bankovky, peníze, peněženka. Ilustrační foto. ČTK Černý Jan

Zeman also signed an amendment that will raise the salaries of constitutional judges and a law on cyber security introducing the rules of cooperation between the private sector and the civil service when averting attacks on information technologies.

The rise in pensions was slowed down for three years by the government of Petr Necas (Civic Democrats, ODS) over austerity measures and the effort to keep the state budget deficit under 3 percent of GDP.

The coalition government of Bohuslav Sobotka (Social Democrats, CSSD), appointed in January, promised to resume the original model one year earlier, that is as from January 2015.

Labour and Social Affairs Minister Michaela Marksova Tominova (CSSD) said the average rise in the monthly pension would be 205 crowns in 2015 to compensate for low increases in pensions in the past years.

The average monthly old-age pension amounted to 10,970 crowns.

Marksova said the planned increase in pensions will require 7.1 billion crowns from the state budget.

A total of 2.86 million people were recipients of old-age, disability and orphan's, widow's and widower's pensions in the 10.5-million country at the end of 2013.

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