Pensions in the Czech Republic will rise by at least CZK 650 a month, and CZK 805 on average as of January. This is a greater increase than was expected, thanks to the higher mandatory indexation of pensions, according to the Labor and Social Affairs Ministry. All pensioners will see an additional sum of at least CZK 650, while many will get more depending on their number of years in work and the sums they paid into the pension system. Previous estimates from the Ministry had suggested the old-age pension would rise by CZK 458, based on the latest indexation rules. Finance Minister Alena Schillerová had previously said pensions would rise by nearly CZK 500. The greater-than-expected increase, which still requires cabinet approval, will be accompanied by a new CZK 300 monthly bonus as of next year.