OECD: Difference between Czech wages and pensions greater than EU average

The difference between wages and pensions in the Czech Republic is greater than the EU average, data from the OECD suggest. On average, pension payments in the Czech Republic amount to about half of what an employee earned before retiring. The EU average is 57.5 percent. The gap may grow even further since the Czech government is currently preparing a pension reform that would put any increase in pensions on ice for the next three years. In Austria, Denmark and Hungary, pensioners are paid about three quarters of their previous wage. In Britain, the pension retired men and women receive amounts to only a third of what they were earning before retirement.

Author: Sarah Borufka