Once in power, Social Democrats vow to abolish pension reform

The opposition Social Democrats have again vowed to abolish the government’s overhaul of the pension system as soon as they come to power. Speaking at a conference in Prague on Thursday, the party’s economic expert, Jan Mládek said they would abolish individual pension accounts managed by private funds as introduced by the reform. Mr Mládek said a Social Democrat cabinet would look for inspiration to Hungary where private pension savings were nationalized in 2010.

Author: Jan Richter