Retirement age

According to Section 32 of the Act no. 155/1995 Coll., on Pension Insurance”, the retirement age is given as follows:

a) For insured individuals born prior to 1936

The retirement age for men is 60 years old

The retirement age for women is:

• 53 years old, if at least 5 children were raised
• 54 years old, if at least 3 or 4 children were raised
• 55 years old, if at least 2 children were raised
• 56 years old, if at least 1 child was raised
• 57 years old

b) For insured individuals born between 1936 and 1971

c) For insured individuals born after 1971 is the retirement age 65 years.

The setting of the retirement age for insured persons who have worked for a specified period in employment classified in the 1st working category and participants in the resistance remains unchanged. The age limits set by the regulations in force before 1 January 1996 continue to apply to these groups of insured persons.

Types of old-age pension entitlements:

Old-age pension [Section 29(1) of the Pension Insurance Act]

The required period of insurance gradually increases depending on the retirement age of the insured individual or the age of the insured individual. The necessary period for entitlement to old-age pension under Section 29(1) of the Pension Insurance Act amounts to:

To ascertain the required period of insurance, only the year when one reaches retirement age is decisive. Insured individuals who have not accumulated the required period of insurance on the day that they reach retirement age will not receive an old-age pension on such date. Only after they accumulate the required period of insurance will they be able to receive an old-age pension.

Old-age pension [Section 29(2) of the Pension Insurance Act]

In the event that insured individuals are not entitled to old-age pension under Section 29(1), they shall be entitled to old-age pension under Section 29(2) of the Pension Insurance Act, provided their accumulated period of insurance is at least:

• 15 years and they attain at least 65 years of age prior to 2010
• 16 years and, in 2010, they are at least 5 years older than the retirement age stipulated under Section 32 of the Pension Insurance Act for men of the same date of birth
• 17 years and, in 2011, they are at least 5 years older than the retirement age stipulated under Section 32 of the Pension Insurance Act for men of the same date of birth
• 18 years and, in 2012, they are at least 5 years older than the retirement age stipulated under Section 32 of the Pension Insurance Act for men of the same date of birth
• 19 years and, in 2013, they are at least 5 years older than the retirement age stipulated under Section 32 of the Pension Insurance Act for men of the same date of birth
• 20 years and, after 2013, they are at least 5 years older than the retirement age stipulated under Section 32 of the Pension Insurance Act for men of the same date of birth.

Old-age pension [Section 29(3) a) of the Pension Insurance Act]

The entitlement to old-age pension arises for insured individuals who attain retirement age after 2014 and accumulated at least 30 years of insurance, provided they did not fulfil the conditions of Section 29(1) of the Pension Insurance Act; in this case, notionally credited periods of insurance shall not be included in the insurance period.

Old-age pension [Section 29(3) b) of the Pension Insurance Act]

The entitlement to old-age pension also arises for an insured person who has reached an age at least 5 years higher than the pensionable age determined in accordance with Section 32 for men of the same date of birth and has acquired at least 15 years of insurance if such person has not fulfilled the conditions of Section 29(2)(b) to (f) of Act No. 155/1995 Coll., on pension insurance; however, periods treated as periods of insurance (i.e. compensation periods) are not included in the insurance period in this case.

Old-age pension [Section 29(1), (2), (3) of the Pension Insurance Act]

The amount of the percentage assessment of pension of the insured persons who do not raise the percentage assessment of pension through gainful activity after becoming entitled to a pension, is calculated for each whole year of the period of insurance received before the entitlement to this pension as follows:

• 1.5 % of the calculation basis on a monthly basis, if it does not correspond to the insured person’s participation in the pension scheme
• 1.2 % of the calculation basis on a monthly basis, if it corresponds to the insured person’s participation in the pension scheme between 2013 and 2015.

Old-age pension [Section 29(4) of the Pension Insurance Act]

Insured individuals who attain 65 years of age and failed to accumulate the required period of insurance to be entitled to an old-age pension under Section 29(1), (2) or (3) of the Pension Insurance Act shall also be entitled to an old-age pension if they became disabled (regardless of the degree of disability) and accumulated the necessary period of insurance for entitlement to a disability pension or became disabled due to an accident at work.

Amount of old-age pension recognised under Section 29(4) of the Pension Insurance Act

The amount of the percentage assessment of this pension is determined in the same way that the amount of the percentage assessment for disability pensions is determined, and for each year of insurance amounts to:

• 0.5% of the calculation basis in the case of first degree disability.
• 0.75% of the calculation basis in the case of second degree disability.
• 1.5% of the calculation basis in the case of third degree disability.

Even if the degree of disability changes for the individuals receiving this pension, the old-age pension is not recalculated and shall continue to be paid out at the same amount.