Czech Republic to lower retirement age for physically demanding professions

Workers in more physically demanding professions could retire earlier after the year 2023, the Czech News Agency (CTK) reported, quoting a draft legislation.

The Ministry of Labor plans to submit a new amendment to current legislation within six months, the report said.

The plan would “allow workers who are more likely to wear out and have limited retraining opportunities to leave the labor market,” said the report.

Details of the plan suggest that for every 10 years worked in a demanding profession, the individual retirement age could be reduced by one year. The individual retirement age for those born after 1971 is currently set at 65, according to the Czech Social Security Administration.

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By law, individuals are able to retire before the age of 65 with a reduced pension. The new plan would not cut pensions for those retiring from physically demanding jobs before the age of 65, but would instead increase them.

Altogether, the plan could entitle nearly half a million workers to an earlier retirement.

There are currently 2.4 million people collecting an old-age pension in the country.

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Source: Xinhua – PRAGUE