Czech Civic Democrats and AKAT Confident Pension Reform Will Pass Despite Presidential Veto

26 September 2012 (PLANSPONSOREurope.com) – The Czech Republic’s majority Civic Democrat party remains confident the country’s sweeping pension reforms will pass as expected despite a presidential veto.

On Monday Czech President Vaclav Klaus vetoed plans to enable people to send a portion of their social security contributions to private pension funds, which passed through the country’s parliament in October.

A spokesperson for Civic Democrats ODS confirmed to PLANSPONSOR Europe the President’s veto could be overturned by a majority vote in parliament.

Prime Minister Petr Necas of the Civic Democrats (ODS), who accused the President of not contributing to the political stability of the country’s government, has announced he would be meeting with opponents of the Bill.
 And his party’s spokesman added: “[The vote] needs to be over one half of the total to approve the bill again.
“We are still confident this Bill will be approved in time by the 1 January 2013 and can be passed into law.”

Jana Michalíková, Executive Director at Czech Capital Market Association – AKAT, is also confident the Bill will eventually pass into law.

“The pensions Bill has strong support from the government,” she said. “Probably they will be able to find a way to overcome this struggle.

“If there is very strong support for the government the Bill will be supported by parliament one more time.”

PLANSPONSOREurope Staff
editors@plansponsoreurope.com