Czech News - October 1997 - New Laws And Amendments In Draft - Act on Pension In

An amendment to the Act on Pension Insurance which will be effective from 1 January 1998 was approved by the Lower House of the Parliament. Under the amendment the Government is required to adjust pensions and the minimum subsistence level once inflation rises by 10%, instead of 5%.

The adjustment of pensions will not have to match the full 100% rise in inflation, but just 70%.

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