Pension liabilities reached CZK 10.9 billion
29 March 2018
The Czech Statistical Office has published the data on pension entitlements of households for the first time. At the end of 2015 they attained CZK 10.9 billion. Their amount represents a share of 237% of the gross domestic product.
“Pension liabilities express a value of pension entitlements of households. It is the total amount that shall be paid to people, who have reached and will have reached the age limit of the old-age pension. The share of these liabilities in the gross domestic product represents the amount of resources formed, which will have to be used to satisfy entitlements of the current and future pensioners,“ explains Mr Jaroslav Sixta, Vice-President of the Czech Statistical Office.
“Majority of the total pension liabilities is formed by entitlements of households within the first pillar of pensions, i.e. the system of pension insurance benefits. The rest of the liabilities at the amount of CZK 0.4 billion is the saved remainder of participants in the pension funds, that is the third pillar of pensions,“ summarises Mr Václav Rybáček, Director of the Government and Financial Accounts Department, Czech Statistical Office.
More detailed information can be found at: http://apl.czso.cz/pll/rocenka/rocenkaout.pension_ent?mylang=EN.
Petra Báčová
Spokeswoman of the Czech Statistical Office
T 274 052 017 | M 778 727 232
E petra.bacova@czso.cz | Twitter @statistickyurad