Pension Costs to Increase Moderately

Politics ♦ Published: November 30, 2012; 22:20 ♦ (Vindobona)

According to CNB (Czech National Bank), pension costs will increase by 3.0% of GDP in the next fifty years.

Pension Costs to Increase Moderately / Picture: ©

The public expenditures for pensions is expected to grow from 8.8% to 11.8% of GDP. At the moment, the difference between expenditures and revenues from social security contributions comes at 20%. The gap is expected to grow in the next decades.

According to the Czech government, the dependence of Czech pensioners on public pensions is too high. In total, 95% of the income of…