CZECH REPUBLIC - The Czech government is considering setting up a "low-cost" state-run pension fund to oversee people's retirement savings which may put pressure on private pension managers to keep fees low.
The Cabinet should have all draft laws for overhauling the deficit-making pay-as-you-go pension system ready "in three to six months," Prime Minister Petr Necas told a conference in Prague today. Details...
CZECH REPUBLIC - Czech pension-overhaul plans are positive for stocks, bonds and the koruna and may help the country win a higher credit rating, Nomura International said.
CZECH REPUBLIC - Prime Minister Petr Necas said the three ruling-coalition parties have moved closer to an agreement on how to overhaul the pension system which he sees as the "crucial" task for the government.
CZECH REPUBLIC - Czech Prime Minister Petr Necas said his coalition government will find a compromise on overhauling the pension system within two months that strengthens private savings for retirement.
CZECH REPUBLIC - Czech Finance Minister Miroslav Kalousek wants changes to the pension program, aimed at reducing the fiscal deficit and improving the country's credit rating, to take effect by 2012.
CZECH REPUBLIC - The Czech Republic's debt rating may be raised if the new government follows through on pledges to reduce spending, including an overhaul of the pension system, Standard & Poor's said.