Small-scale pension reform

President of the Czech Republic Vaclav Klaus did not sign the so-called small-scale pension reform, which would change the reduction limits for calculation of pensions and extend the age limit for old-age retirement as of October 2011. The Chamber of Deputies will vote again on this bill and, if the simple majority of all deputies insist on passing the returned bill, the bill shall come into force.

The amendment responds to a resolution of the Constitutional Court which recognized that pensions paid to people with higher income were too low in comparison with those paid to people with low income and ordered to change the calculation of pensions.