29.03.2021 Labour law

[Czech Republic] Payroll accountant and pension insurance records

Completing the pension insurance records (PIR) is another obligation within the annual payroll agenda that a payroll accountant must fulfill. PIR are usually issued after the end of an employment. However, if the employment lasts, the PIR must be processed no later than 30th April of the following year.

Based on the PIR, the Czech Social Security Office then pays old-age pensions or other types of pensions to former employees. PIR are therefore very important for every employee. Aside from employee’s personal data, type of employment, number of days the employee was pension-insured (this also has a significant effect on the amount of the pension) and employee’s assessment basis need to be filled in. The assessment basis serves as a main constant for the calculation of the pension, while the excluded days also positively affects the final amount of pension. Excluded days are, for example, sickness, child nursing (including nursing due to closed schools because of the COVID-19 epidemic) or days of maternity leave until the day before childbirth.

The payroll accountant sends PIR to the Czech Social Security Office, which archives them. However, it is also a legal obligation to hand over one copy to the employee and to archive the other copy for a period of 3 years.

Martin Svoboda Payroll Business Development Manager

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