MF: Pension deficit at CK 29.7m in May

(CIANEWS) - At the end of May 2023, revenue from pension insurance premiums, including voluntary insurance, totalled CZK 252.54bn. Expenditures for pensions, including administration expenditures, amounted to CZK 282.23bn, according to data published by the Czech Ministry of Finance (MF), adding that the system’s resulting balance was negative CZK 29.69bn (April: negative CZK 27.76bn). As of December 31, 2022, there were 2.84m pensioners in the Czech Republic, and the average old-age pension totalled CZK 18,061. In 2023, administration expenditures are expected to reach CZK 7bn.



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