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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.  More

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.  More

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