Wednesday, August 02, 2006

Handwriting on Czech (Wall)

Prague bows to the inevitable:

Prague, Aug 1 (CTK) - The increase of the age when people get retired will be necessary in the future otherwise enormous debts would accumulate in the pension system, the Labour Ministry states in a report on social insurance available on its website today.

....In general, women got retired at the age of 57, while men at the age of 61.

The five parties in parliament discussed a pension reform in the previous election term. All parties but the Communists (KSCM) wanted the retirement age to rise to 65 years. An agreement was not reached. The retirement age will gradually increase to 63 years, for men in 2016 and women in 2019.

The authors of the ministry´s report say that the retirement age increase is not reform, but a necessary natural reaction to population ageing and low birth rate.

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