The aim of this article is to analyse pension reform in the Czech Republic after 2010. Pension reform in the Czech Republic has gained new pace. The panel of consultants and experts on pension reform recommended mandatory saving in funds. The Constitutional Court ruled that citizens with higher incomes during their professional careers should receive higher pensions. The government responded by a minor amendment to the Pension Insurance Act and also prepared a major pension reform, which has introduced an opt-out, albeit on a fairly modest scale. The political risks of the current pension reform are considerable. [---]