Early old-age pension

An early retirement pension may be granted before reaching the standard retirement age, provided that the insured person has completed at least 40 years of pension insurance. The entitlement to an early pension arises if the insured person is no more than three years short of the retirement age on the date the early retirement pension is granted. Once granted, the early retirement pension is irrevocable and excludes entitlement to the regular old-age pension.

The early old-age pension can be recognized from the day of submitting the application for this type of pension at the earliest, so not retrospectively.

The period of early retirement will reduce the amount of pension (the so-called reduction). This deduction (reduction) for an early retirement shall be permanent.

The percentage of the early retirement pension shall be 1.5% of the calculation base monthly for each full year of insurance, unless it coincides with the period of participation of the insured in pension savings in the period from 2013 to 2015, or 1.2 % of the calculation base monthly if it coincides with the period of participation of the insured in pension savings in the period from 2013 to 2015.

This amount is reduced by 1.5% of the calculation base for every full or partial 90 calendar days between the date the pension is granted and the date the retirement age is reached.

Please note: This is a pension paid out of the statutory pension insurance and is not related to the early retirement pension that can be paid out of private pension insurance (pension funds).

If both the basic and percentage assessment of pensions are increased during the regular January indexation, early retirement pensions granted from a date after 30 September 2023 will have only the basic assessment increased. The percentage assessment of these pensions is not increased, even in the event of an extraordinary indexation, if the recipient has not reached the retirement age before 1 January of the calendar year in which the pensions are increased.

Early retirement pensions granted before 1 October 2023 will continue to be indexed according to the general rules.

Simultaneous receipt of early retirement pension and income from gainful activity

If a recipient of an early retirement pension is engaged in gainful employment or receives unemployment benefits or retraining assistance, they are not entitled to receive this pension until they reach retirement age.
Engaging in gainful employment abroad does not affect the payment of old-age pension before reaching retirement age, unless otherwise provided for in an international social security agreement to which the Czech Republic is bound.

More information can be found here (in Czech).