What are the statutory pension benefits in the Czech Republic?

In the Czech Republic, both mandatory government-sponsored pensions and voluntary private pensions are available under the pension system.

• Mandatory Government Pension: Both the employee and employer are required to contribute to this pension through their social security contributions. These contributions are managed by the local Social Security Office and cover:

- Sickness insurance (including sickness, injury, and maternity benefits)

- Pension insurance (including disability, old-age, widow/widower, and orphan pensions)

- Employment insurance

• Voluntary Private Pension: Employees have the option to purchase voluntary pension insurance, contributing an amount of their choice. These voluntary contributions are supplemented by a state contribution. Note that only part of the employer’s voluntary contribution to this insurance is tax-deductible.