Working group has prepared four versions of pension reform - Skromach

18-10-2004

The Minister of Labour and Social Affairs, Zdenek Skromach, said at a conference on Monday marking 80 years of state social insurance, that a Czech working group of experts has prepared four possible versions for pension reform, and that if politicians can agree on a version by July, implementing pension reform would be possible within two years' time. About 9 percent of the Czech Republic's GDP now goes towards pensions, a ministry expert told the conference, but could reach the unsustainable level of 15 percent or more within a couple of generations if widespread reforms are not introduced in the pension and health insurance systems.