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Pension reform in the Czech Republic and its risks
Spurný, Jiří ; Krahulec, Jan (referee) ; Škapa, Stanislav (advisor)
The diploma thesis deals with the pension reform and the pension system in the Czech Republic. The paper explains fundamental terms in the field and explains their function. The main aim of the thesis is a definition and risk analysis of individual parts of the pension system. The secondary aim is guidance how to use each of the parts of the system.
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Fondové pilíře důchodových systémů zemí V4 a jejich produkty
Šteffková, Klára
The thesis is focused on the functioning of pension systems in Visegrad countries, especially on the importance of the particular funded pillars within these systems. The whole pension system is analysed for each country, including the general comparison with focusing on the funded pillars and their products. The comparison is based on selected criteria. This thorough comparison then helps to form the suggestions for funded pillars in Czech Republic, which could lead up to improvement of the current situation regarding the social security in our country.
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Funds of the supplementary pension savings in the pension system of the Czech Republic
MACHOVÁ, Jana
This bachelor thesis deals with problems asociated with pensions scheme in the Czech Republic and judge the effect of the pension reform on this market segment. The theoretical part is focused on the general characteristics of pension systems, history and present development of the pension scheme in the Czech Republic. It also describes transformed and participant funds and explain their origins. The practical part compares the strategy and revenues of pension companies operating in the Czech Republic. Pension companies are evaluated on the basis of the number of participants, including their deposits and the number of funds offered, which are evaluated on the basis of their profitability and risk. At the end of the work, the best pension company is evaluated based on a simple sum order method for real data.
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Simulation of pension reform impact on Czech real estate market
Součková, Soňa ; Jandík, Tomáš (advisor) ; Hedbávný, Petr (referee)
Diplomová práce - Soňa Součková: Simulation of pension reform impact on real estate market Abstract The objective of this thesis is to estimate the impact of pension reform on commercial property market in the Czech Republic during the period of 2013 -2017. Our hypothesis is that a potential pension reform would have a positive significant impact on property investment volumes via institutions constituting the second pillar. In the first step, we provide analysis of pension reforms recently applied in Slovakia, Hungary, Poland, Lithuania, Latvia and Estonia. Given analysis of selected countries and specifics of the proposed Czech pension reform, we estimate that the institutions in the second pillar may face additional yearly cash inflows beginning on EUR 1.23 billion in 2013 and further increasing to EUR 2.59 billion in 2017. Furthermore, we estimate that a likely share allocation by second pillar institutions into real estate would lie in the region of 0 - 14% depending on the discrete decision of the regulators. Using a conservative leverage of 40% for bank financing, we estimate that the expected investment volumes allocated by second pillar institutions into real estate would be EUR 61 - 287 million in year 2013. Given the average investment volumes of EUR 1334 million p.a. allocated into commercial...
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Real- Estate Taxation de lege ferenda
Krejčí, Hanuš ; Boháč, Radim (referee)
The thesis presents a brand new concept of recurrent real estate tax in the Czech Republic. The object of the tax is designed to be exclusively land and apartments and non-residential premises. Buildings or any other aboveground or underground structures are not the object of taxation. Unlike buildings, land and apartments and non-residential premises can be appraised with sufficient accuracy only considering their quantity and location, hence by simply multiplying their areas and unit prices common in a given place and time. Consequently, the real estate tax can be designed on an ad valorem basis in order to differentiate between the tax liability of most lucrative, less lucrative and least lucrative property owners. As a result, tax collection can be substantially increased and a still marginal local tax can become a significant source of funds to the state treasury. At the same time, the increased recurrent tax on immovable property allows to abolish the economically questionable one-off tax in the Czech Republic, which is nowadays levied on the transfer of immovable property. The land tax is imposed on all land in the territory of the Country, with the exception of land built by apartment buildings and land used exclusively with them. The tax on apartments and non- residential premises falls on the...
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Real- Estate Taxation de lege ferenda
Krejčí, Hanuš ; Boháč, Radim (referee)
The thesis presents a brand new concept of recurrent real estate tax in the Czech Republic. The object of the tax is designed to be exclusively land and apartments and non-residential premises. Buildings or any other aboveground or underground structures are not the object of taxation. Unlike buildings, land and apartments and non-residential premises can be appraised with sufficient accuracy only considering their quantity and location, hence by simply multiplying their areas and unit prices common in a given place and time. Consequently, the real estate tax can be designed on an ad valorem basis in order to differentiate between the tax liability of most lucrative, less lucrative and least lucrative property owners. As a result, tax collection can be substantially increased and a still marginal local tax can become a significant source of funds to the state treasury. At the same time, the increased recurrent tax on immovable property allows to abolish the economically questionable one-off tax in the Czech Republic, which is nowadays levied on the transfer of immovable property. The land tax is imposed on all land in the territory of the Country, with the exception of land built by apartment buildings and land used exclusively with them. The tax on apartments and non- residential premises falls on the...
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Real- Estate Taxation de lege ferenda
Krejčí, Hanuš ; Vybíral, Roman (advisor) ; Boháč, Radim (referee)
The thesis presents a brand new concept of recurrent real estate tax in the Czech Republic. The object of the tax is designed to be exclusively land and apartments and non-residential premises. Buildings or any other aboveground or underground structures are not the object of taxation. Unlike buildings, land and apartments and non-residential premises can be appraised with sufficient accuracy only considering their quantity and location, hence by simply multiplying their areas and unit prices common in a given place and time. Consequently, the real estate tax can be designed on an ad valorem basis in order to differentiate between the tax liability of most lucrative, less lucrative and least lucrative property owners. As a result, tax collection can be substantially increased and a still marginal local tax can become a significant source of funds to the state treasury. At the same time, the increased recurrent tax on immovable property allows to abolish the economically questionable one-off tax in the Czech Republic, which is nowadays levied on the transfer of immovable property. The land tax is imposed on all land in the territory of the Country, with the exception of land built by apartment buildings and land used exclusively with them. The tax on apartments and non- residential premises falls on the...
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Liberal Critique and Reforms of Welfare State - The Case of Chile's Pension Reform
Žídek, Bohumír ; Angelovská, Olga (advisor) ; Potůček, Martin (referee)
My master thesis explores classical liberal attitudes towards the Welfare State. It deals especially with concepts developed by the so-called new classical liberals (also called neoclassical liberals) represented by scholars of the Arizona School. I use their ideas to reconstruct free-market liberal theory of social justice, which is then applied to pension reforms in Chile and Sweden. The thesis also recollects critiques of public pension systems by public choice theory scholars, which are then used to explore a nature of the aforementioned pension reforms. In cases of both reforms, these theoretical frameworks are used to evaluate data obtained by a desk research. Relevant documents and also data of international organizations and national statistical offices were used. In its last part, the thesis evaluates primary data obtained by semi-standardized interviews with seven Czech classical liberals and explores their attitudes towards both the free market liberal theory of social justice and pension reforms in Chile and in Sweden. Abstrakt Diplomová práce zkoumá vztah klasického liberalismu k sociálnímu státu. Zabývá se zejména koncepty vyvinutými takzvanými novými klasickými liberály reprezentovanými především badateli arizonské školy. Jejich ideje využívám k rekonstrukci tržně liberální teorie...
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Analysis of the impact of individual political parties represented in the Deputy Chamber of the Czech Republic on pension reforms, their consistency and the resulting form of reforms in between the years 1990-2015
Baloun, Matyáš ; Brabec, Petr (advisor) ; Křeček, Štěpán (referee)
This thesis introduces the influence of individual political parties represented in the Deputy Chamber of the Parliament of the Czech Republic on the pension reforms, their consistency and the subsequent form of the reforms in between the years 1990 - 2015. The political ideologies that connect to the forms of pension theory are analyzed in the theoretical part, followed by the retirement models, including their funding, that are commonly used worldwide. The current state of the pension system in the Czech Republic and the introduction of the Czech post-revolutionary political system are presented at the end of the theoretical part. There are chronologically arranged periods in the practical part, in which the individual changes in the development of pension systems in the Czech Republic are shown. The party's pre-election campaigns are presented in selected periods, and an analysis of the political influence on the enforced final changes in the pension system is then conducted. The influences of political subjects on the final forms of the law are summarized based on available data at the end of the thesis, proving that it is possible to declare important laws with negligible influence on the final form of individual laws in the Czech political environment even with a relatively small number of Member of Parliaments in the Deputy Chamber of the Czech Republic.
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Pension Reform in the Russian Federation and Its Political Consequences during Vladimir Putin's Tenure
Ringelová, Johana ; Svoboda, Karel (advisor) ; Cibulková, Petra (referee)
The main aim of this Bachelor thesis is to describe the situation in the pension system of the Russian Federation starting from the year 2000, when Vladimir Putin became the new head of the Russian Federation, and finishing in April 2015. The thesis analyses the development of the pension system in this period with the special emphasis on the 2002 pension reform, the main principles of its functioning and the process of its passing in the Russian parliament. Next in the text, there is a failed attempt of a reform of non-monetary benefits in the year 2005, which led to mass protests of Russian public and showed, where the boundaries of structural reforms are. Last chapters are aimed at the 2010 pension reform and the current situation in the Russian pension system. Main problems of the whole system are also analysed in the text and possible solutions are offered. Special attention in the analyses of the pension system is paid towards the political aspect of the development of the pension system. It played a major role in shaping of the pension reforms and changing preferences of Russian voters had great impact on the decision making process.
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