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Pension insurance, rate of return and regulation
Hanušová, Barbora ; Radová, Jarmila (advisor)
The bachelor thesis tackles the issue of supplementary pension insurance with government incentives in the Czech Republic, this being the third pillar of the pension system of the Czech Republic. In the first two chapters there are stated the general characteristics of the supplementary pension insurance and pension funds. The following chapter is focused on the control system and regulation of the supplementary pension insurance and also suggests possible ideas for changes that could be implemented into the supplementary pension insurance system as a result of implementation of the second pillar of the pension system of the Czech Republic. The last chapter is an analysis of return on supplementary pension insurance consisting of three parts. First part analyses the incentives provided by government. The second part focuses on the rate of return on the pension funds and the last part provides a detailed analysis of two chosen pension funds.
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Financial coverage of the people's needs in old age
Pulkrabová, Markéta ; Radová, Jarmila (advisor)
Thesis deals with two main options, which are in the Czech Republic most commonly used for financial security in old age. First, it is a state old-age pension, which is due to its significance in the Czech pension system in the thesis given the most attention. The other source is additional pension insurance with state contribution, which is most suitable, while a complementary product to the basic retirement pension. This bachelor thesis also briefly shows the major milestones in the development of the pension system up to year 2010 and subsequently also the prepared pension reform. The analytical part of the paper shows the impact of the forthcoming legislative changes to the amount received of old-age pensions, and how to choose on the basis of selected criteria the right pension fund.
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Rate of return on old age pension system
Audy, Daniel ; Klazar, Stanislav (advisor) ; Dugová, Alena (referee)
Old age pension scheme system consists of two time periods of different lengths. During the first stage the insured persons contribute financially a certain part of their base of assess into the system. For purposes of this work we can call this sum a percentage of their income. On reaching a certain age the insured people can draw regular amounts of money, called old age pension. Insurance rate should be paid for a longer period of time and in smaller amounts. Old age pension should be, on the other hand, higher and be available for a shorter period. This works tries to find out which of these two sums (in total) is higher: insurance rate of pension.The value studied is the rate of return, which compares the money paid by the state with the insurance money. Actual employees' salaries reflecting the progression of the lifetime income were used in calculations. Concurrently, this work enables to understand the method of calculation of old age pension nominal value for the year 2011 and takes into account the changes within the so called small pension reform.
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Analysis of the profitability of the supplementary pension scheme, with an emphasis on taxation
Vanišová, Šárka ; Klazar, Stanislav (advisor) ; Teklý, Lukáš (referee)
The subject of this thesis is to assess the status of the supplementary pension scheme in the Czech Republic. The work deals with issues of return pension schemes. Examines aspects that affect profitability, in particular the taxation of pension schemes and the investment of pension funds. On the basis of the knowledge generated through analysis of the comparison is made of benefits to be paid at the end of the period -- annuities and lump sum compensation. The analysis performed provides information about which of these benefits is for the client to the pension fund more profitable option. The first part of the work deals with the characteristics of the supplementary pension scheme in the Czech Republic, describes its emergence, evolution, status in the pensions system. In the second chapter are discussed the main aspects that affect its profitability, taxation, and return on pension funds. The third chapter contains the comparsion annuities and lump sum compensation.
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The pension redistribution influenced by a whole life income curve
Redl, Jan ; Klazar, Stanislav (advisor) ; Teklý, Lukáš (referee)
Currently the retirement insurance payments and the following oldage pension drawnings have been highly discussed topics during economic activities. In this research the main attention will be given to the pension redistribution influenced by a whole life income curve. In other words it will be pointed out how much we pay on social insurance and what will be the assessment on income like. This research compares the whole life income and the retirement pension payments until the average death age in other parameters. It answers what will be the rate of profits of individual groups of inhabitants which are devided in men/women, residents of Prague/non-residents and inhabitants with elementary/secondary/university education.
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An Early Retirement and its role in the social security system.
ZDVIHALOVÁ, Martina
This thesis addresses the issue of early retirement. The theoretical part discusses the role of early retirement in the social security system of the Czech Republic. First, it describes the system of our social security itself. The next section deals with the development of the pension insurance from its beginnings to the present time. Since 1996, the applicable legal regulation has been Act No. 155/1995 Coll. on pension insurance, but it has been amended several times. The last major amendment has been parameter changes from 1 January 2010. In subsequent chapters, the theoretical part deals with old-age pensions and, in particular, early old-age pensions, it explains the conditions of eligibility and related concepts such as insurance period, retirement age, pension application. The main objective of the thesis was to find out about the reasons for the submission of an application for a reduced early retirement. Other objectives were to find out whether they have sufficient information on all conditions of eligibility for this type of pension and what factors influenced their decision. To achieve the objectives, the qualitative method was used; the techniques of the research included semi-structured interviews and a secondary data analysis. The sample consisted of a total of 15 respondents (five unemployed persons, five employed persons and five self-employed persons). The research has shown that the reasons of applicants are similar not only within each group, but also between them (fatigue, health problems). The secondary data analysis was used to illustrate the size and structure of the basic sample. The results show that the early retirement is applied for by a relatively low number of people with higher education. I believe that currently early retirement has an indispensable role in the social security system and it should remain a part of it in the future. However, the thesis also shows that people in their pre-retirement age are not offered another appropriate alternative.The thesis should serve to raise awareness about the issues early retirement.
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Additional pension insurance and its role in creating a financial reserve for retirement
GRÜNNOVÁ, Milena
The diploma work is oriented on the additional pension insurance (superannuation scheme) and on it{\crq}s value as a reserve for the retirement age. In the theoretical part there is described the history of the additional pension insurance, main terms and definition and next there are in detail described the particular pension funds and their rentability. The theoretical part finishes with the integral part of the additional pension insurance, which is the tax prefference. In the introduction of the practical part there I am concerned with the pension reform, because the additional pension insurance is an instrument used for saving for the pension age. The pension reform has three phases. The first phase already has been confirmed by the government and it{\crq}s main consequence are the rules for the retirement. Next two phases are being discussed. No matter how the discussion about the reform ends I consider as reasonable to care of securing myself in the future by using the additional pension insurance. This is demonstrated on four independent examples, where I show that it is advantageous to start saving money by additional pension insurance. In the final phase of the practical part there is the general conclusion of the diploma work and my own opinion about the importance of the additional pension insurance.
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Retirement as a significant turning point in human life
LUKEŠOVÁ, Jana
This work deals with retirement as an important change in human life. Theoretical part characterizes concepts of aging and age, and also the society{\crq}s perception of the elderly. The central part of the theoretical work deals with pensions, people{\crq}s leave to retirement, the pension insurance and the types of retirement pensions and conditions for entitlement to retirement pension. The practical part includes qualitative research, which explores with what expectations people enter into retirement and whether these expectations were fulfilled or not. The research was divided into three sets of issues: retirement, expectations and life in retirement. The aim was to determine whether people's expectations before retirement and then during retiremen were met.
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Issues relating to the application of Council Regulation (EEC) No. 1408/71 and Council Regulation (EEC) No. 574/72 in the field of pension insurance.
MARŠÁLKOVÁ, Jitka
The European social security law became applicable in the Czech Republic after its accession to the European Union on 1 May 2004. The most important legal regulations in this field include Council Regulation (EEC) No. 1408/71 and Council Regulation (EEC) No. 574/72, so-called coordination regulations. The aim of the bachelor thesis was to map out whether and in what way the legal protection of so-called migrating persons was extended in the field of pension insurance in connection with the accession of the Czech Republic to the EU, and to compare procedures relating to the proceedings on awarding allowances from pension insurance to persons who have been insured in some of the EU member states for certain periods of time. Qualitative research was applied to obtain necessary information. Based on an analysis of the primary documentation (domestic legal regulations, international treaties on social security, coordination regulations and statistic data), the data obtained were analysed. It was found out that the coordination regulations facilitate the conditions of migration and ensure legal protection of persons migrating between the EU, EEA and Switzerland. Member states are obliged to treat migrating persons and their own nationals equally, avoiding any restrictions regarding their opportunities to work in various countries within that area. As at 30 April 2004, i.e. before the accession of the Czech Republic to the EU, the legal protection of migrating persons in the field of pension insurance was ensured with bilateral treaties on social security concluded by the Czech Republic and other 24 states. Since 1 May 2004, the legal protection has been extended to additional 15 EU and EEA states which had not been parties to such bilateral treaties. The accession of the Czech Republic to the EU led to a significant increase of the amount of activities carried out by the Czech Social Security Administration acting as the competent institute. This finding arose out of the statistics of acts performed in connection with the EU issues. The issues connected with the social security of migrating persons ({\clqq}foreign issues``) are more complicated compared with domestic issues which is the cause of the fact that the average duration of pension proceedings is several times longer compared to domestic applications.
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