At its plenary session on 18 July, the Chamber of Deputies passed the governmental proposal of the reform of pension insurance. The proposal regulates primarily collection of pension tributes into the so-called second pillar of the pension insurance (insured people have to regularly contribute to private funds). The Bill also specifies the supervising and collecting function of the financial control of the Czech Republic. The second pillar and a possibility of individualized contribution pays should come into existence in January 2013. The Bill is heading to the Senate (scheduled discussion on 15 August).
For further information regarding the Bill, click here (source: explanatory report).