This chapter focuses on the mandatory earnings-related pension scheme. The main component of the Czech old-age pension system is a pay-as-you-go defined benefit system. The chapter provides an overview of the demographic and labour market trends in the Czech Republic, as well as pension reforms undertaken over the last three decades. Current pension outcomes are presented. The chapter describes the rules of the current pension system and assesses its capacity to deliver good pensions in a financially sustainable way. While the new reform proposal by the Czech Commission on Fair Pensions is discussed, the chapter concludes with policy recommendations to improve earnings-related pensions.