Czech Republic to gradually raise retirement age to 65

Other News Materials 5 August 2008 23:27 (UTC +04:00)

Czech President Vaclav Klaus signed a law Tuesday that gradually raises the country's retirement age to 65, his office said, dpa reported.

Czech men currently retire at around 62 years of age, while women usually at around 59.

Under the new law, all men, childless women and mothers of one will retire at 65 from 2030. Mothers of two and more children will retire up to three years earlier.

The legislation also extends the period during which Czechs must work and pay their pension insurance from 25 to 35 years.

The measures are part of pension reform plans by the center-right government of Prime Minister Mirek Topolanek, which aims to overhaul the system in the face of the Czech Republic's ageing population.