A record number of people destined for early retirement

The number of old-age pension beneficiaries in the Czech Republic has decreased by 11,000 compared to the previous year, reaching 2.37 million people in 2022. Out of the recently granted 104,000 old-age pensions, 45,000 were awarded to individuals before reaching the appropriate retirement age. The average amount of the old-age pension in December 2022 was 18,098 CZK, which is 2,645 CZK more than the previous year. In 2022, the total number of pension beneficiaries in the Czech Republic decreased by 13,000 compared to the previous year, reaching 2.84 million people, representing 26% of the population. Among these pensioners, there are 1.18 million men (22% of all men) and 1.67 million women (30% of all women). “2.37 million people received an old-age pension, the majority of all pensioners. Additionally, 414,000 people received a disability pension, 24,000 received a widow or widower’s pension independently, and 39,000 were orphans,” stated Helena Chodounská of the CZSO Department of Development Statistics. Compared to the previous year, the number of pensioners decreased by 10,600. While the number of female beneficiaries decreased by almost 11,000 to 1.42 million, the number of male pensioners remained at 952,000. In 2022, the average amount of the old-age pension increased by 17.1%, reaching 18,098 Czech crowns. Men showed slightly more improvement, with their average old-age income reaching 19,807 CZK in December 2022, which is 3,298 CZK more than women. The year 2022 brought an increase in interest in early retirement pensions, with 29% of all full pensioners benefiting from it, compared to 19% in 2010. In 2022, 44,600 new old-age pensions were granted before reaching the retirement age, almost 20,000 more than the previous year. The reason for the increase is that in 2022, there were two extraordinary pension adjustments. Of all the recently granted full old-age pensions in 2022, 43% were granted early. “The average amount of the recently granted early old-age pension in 2022 reached 18,221 CZK, which is 2,220 CZK less than the regular retirement age,” said Markéta Pištorová of the CZSO Department of Development Statistics.