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It’s smart to save for the future, but how do you know what savings plan to choose? How much and why do you pay the mandatory social security contributions to the Czech state? Brno Expat Centre Seminar: Social Security and Pensions will answer your questions regarding social security contributions, pensions, savings, life insurance, and investments.

Expatriates who are employed by a Czech-based company or by a branch of international company based in the Czech Republic are subjects to income tax and social security and health insurance contributions since the first day of their employment.

An employee’s social security and health insurance contributions are calculated as 11% of gross earnings. Employers must pay an additional 34% of all employees′ gross salaries to the Czech social security and health insurance authorities in 2017.

Overview of social security and health insurance contributions, Czech Republic, 2017.

Contributions Employer (%) Employee (%)
Health care insurance 9 4,5
Pensions 21,5 6,5
Unemployment Support 1,2 0
Sick leave and other benefits 2,3 0
Total 34 11

Source: CzechInvest, 2017.

Mrs. Tesolinová and Mr. Hulec, experts from the Czech Social Security Administration, will introduce the Czech social security system to expatriates in Brno. Make sure you’re familiar with what this system covers, so you can decide whether you need to buy additional insurance plans or what to do when you decide to move back to your home country.

Later, Monika Pimková, finance specialist from Partners Financial Services a.s. , will talk about saving opportunities and benefits of diversification of your savings portfolio.

Czech Social Security Administration is the largest financial administration body within the Czech Republic’s civil service. Partners Financial Services a.s. are currently the biggest financial advisory company on the Czech market with nearly 500.000 customers.

What does the official Czech pension scheme cover? What if I move to work or retire in another country?  If these or any other questions have crossed your mind, don’t hesitate to come or send your questions in advance while registering for the seminar.

The event is free. Registration is required. To register, go to BEC.

When: June 1, 2017
Where: Knihovna Jiřího Mahena v Brně, Kobližná 4

Program:

17:50 – Registration

17:30 – Introduction and Welcoming

17:40 – Social Security talk with Q&A

18:30 – Private savings and pension funds presented by Partners with Q&A

19:15 – Consultations, networking, and refreshments

Title picture: Filckr.com.

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