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Current AffairsPension reform draft proposes lower contributions, individual accounts
The Czech pension system is to undergo a major overhaul in the coming
years. On Wednesday, government appointed experts unveiled a pension reform
draft that would enhance the current pay-as-you-go system with individual
savings accounts. If approved, the plan will be in effect when today’s
generation in their 20s and early 30s reach retirement age.
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Current AffairsTop court ruling fuels debate on pension reform
Experts are concerned that a recent landmark ruling by the Czech
Constitutional Court on the pension system might lead to excessive
government expenditures. The verdict gives politicians until September 2011
to change the way pensions are calculated, but could speed up a general
overhaul of the contribution-based system.
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Business NewsBusiness News
In this week’s Business News: the ad spending slide hits Nova profits;
one sole order for Staropramen; bad loans provisions hit Česká
Spořitelna; ČEZ powers up in Germany; and Czechs lose taste for pork
products.
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