|
|
Czech Pension System Sustainability: How to Complement the PAYG System?
Mikušek, Vít ; Potůček, Martin (advisor) ; Kotrusová, Miriam (referee)
Práce se zabývá vybranými návrhy na zavedení veřejnoprávní podoby penzijního fondu jako doplňku k průběžnému systému, které se objevují v českém veřejně-politickém diskurzu. Tyto návrhy podrobuje vzájemnému srovnání z hlediska parametrických rozdílů navrhovaného opatření. Na základě textové analýzy návrhů byly identifikovány dva možné způsoby alokace depozit penzijním fondem, které byly podrobeny analýze hypotetického dopadu na veřejné finance při zahrnutí státní garance nezáporného reálného výnosu. První možnost vychází z předpokladu stejných legislativních podmínek se soukromými účastnickými fondy, a spočívá v možnosti fondu investovat depozita na finančních trzích. Jako optimální se ukázala vyvážená investiční strategie, která v období 2013-2019 dokázala účastnickým fondům zajistit dostatečnou výnosnost k překonání inflace při relativně nízké míře rizika. Druhým možným způsobem alokace je smluvní financování vládních investic za úrok ve výši inflace. Na základě testu Grangerovy kauzality a vektorového modelu korekce chyb nebylo prokázáno, že by vládní investice statisticky významně ovlivňovaly budoucí hodnoty HDP v dlouhém období. Z hlediska míry rizika zvýšeného deficitu veřejných financí se tak pro případný státní fond jako optimální jeví vyvážená investiční strategie při alokaci prostředků na...
|
|
|
Zavedení penzijní reformy do stávajícího penzijního systému v ČR
Christek, Pavel
This bachelor's thesis deals with the issue of pension reform in the Czech Republic. The aim of this study is the comparison of the individual pension schemes before and after the reform. The work also includes a model example that depicts three men of different age and income categories. The case study illustrates the different financial situation of the representatives during their retirement.
|
|
|
Důchodové systémy v zemích Visegrádské čtyřky
Vítková, Petra
Pension systems and their financial sustainability in the last few decades are frequently discussed topic. Many evaluate existing PAYG systems as financially unsustainable. They come up with pension reforms solutions like introduction of a three-pillar system. This thesis deals with the analysis of pension systems of the Visegrad Group. This group is composed of Czech Republic, Hungary, Poland and Slovakia. Application of Aaron's rule is measured by return on different types of pension schemes. Then, ongoing financial sustainability of pension systems in the V4 countries is evaluated. The final assessment of financial sustainability is directed to the situation in the Czech Republic according to the results of the carried out analyzes of the entire group of Visegrad.
|
|
|
Analysis of the pension systems of selected countries
Málek, Jakub ; Jílek, Josef (advisor) ; Šarapatka, Michal (referee)
The topic of this thesis is the issue of pension systems, which are an integral part of every advanced society. The aim of this thesis is to provide an insight into the basics of the issue, analyze selected pension systems and to assess the possibility of introduction similar pension systems in other countries. In the theoretical part of the thesis first presents basic aspects of the development of approach to finance consumption in old age, possible forms of pension systems, the risks that are associated with them, as well as several models of pension system that are currently enforced. In the analytical part pension systems of Australia, Denmark, Canada, Netherlands, Sweden and Switzerland are first specified separately and subsequently, on the basis of criteria coverage rate, financial sustainability and adequacy of pensions, subjected to comparative analysis. The result of the analysis is the determination of the Dutch pension system as a system that has, although not in all analyzed areas, the relatively best results of functioning. However, the widespread introduction of this system definitely not recommended, due to given economic differences in various countries, which are described in the conclusion of this thesis. Nevertheless of each pension system we can choose a positive approaches to solving problems on which we can build in the future.
|
|
|
The applicability of the Chilean pension system in the Czech Republic
Brabec, Petr ; Krebs, Vojtěch (advisor) ; Kubelková, Karina (referee)
The Chilean pension reform has been an experiment of great success. Futhermore, thanks to it the current pensions are much higher than they would have been under the old Pay-As-You-Go system. Considering this, I decided to analyze the possible applicability of the Chilean pension system in the Czech environment. In the present diploma thesis I do analyze the potential results (replacement ratio) of the introduction of a fully funded system in the Czech Republic, in comperison with the replacement ratio of the current Czech PAYG system and the modificated Czech PAYG system that would not genarate deficits (through the reduction of pensions) and keep the retirement age same for all variants for the reason of objective comparison. Later, I do analyze the impact to the state budget of the transition to a fully funded system and discuss the advantages of a such transition. The main conclusion of this diploma thesis justifies that the transition to a fully funded system in the Czech Republic is not recommendatory, due to the fact that it requires high state budget funding and there is a great unlikelihood of benefits for all income groups in general.
|
|
| |
|
|
Pension System in the Czech Republic and its Future Prospects
Řežábková, Pavla ; Kaczor, Pavel (advisor) ; Humhalová, Miroslava (referee)
The bachelor thesis deals with the pension system of the Czech Republic, its forthcoming reform and examines the adaptability of people to the planned changes. The theoretical part of my thesis gives an overview of the issue: the impact of demographic factors on the existing pension system, types of financing the pension system with focusing on continuously financing and funds, types of pension systems in different countries, explaining the reasons and objectives of pension reform and finally summarizes the current reform proposal, along with commentary on the disputed points and positives. The practical part is based on data obtained from a questionnaire survey and examines the relationship of specific factors (age, education, income, etc.) and willingness of people to save money for their contributions beyond the required additional funds for retirement. This thesis is also evaluating the influence of all these factors on deciding on the proposed transition to a funded pillar. At the end of the thesis there is a conclusion where is an assessment of potential success of the proposed reform.
|
|
|
Experience of pension reform in Slovakia
Kaľata, Martin ; Klazar, Stanislav (advisor) ; Polák, Michal (referee)
Bachelor's thesis, which I consider addresses the assessment of the pension system in Slovakia and its experience with reform. Main attention is paid to the second pillar and retired management companies. The analysis is carried out with the actual data used statistics from the National Bank of Slovakia and Social Insurance. The main objective is to assess the funded system.
|
|
|
Possibility integrating young people with pension system
Konůpková, Lenka ; Kapinusová, Jana (advisor) ; Krebs, Vojtěch (referee)
Ačkoliv média často mluví o potřebě změny současného penzijního systému, mladé lidi to příliš nezajímá. Tato práce na tyto problémy upozorňuje a nabízí možnost, jak problematiku řešit již dnes, ve formě penzijního připojištění. Představuje produkty a poskytovatele, kteří v této oblasti jsou na trhu k dispozici. Uvedena jsou hlavní kritéria, důležitá při výběru fondu. Na závěr hodnotí současnou situaci v České republice, která není optimální a navrhuje možná zlepšení.
|
|
|
Pension system reform in CR
Kučera, Mario ; Ježek, Tomáš (advisor) ; Munzi, Tomáš (referee)
The object of my diploma is focused in the pension system of The Czech Republic and the perspective of it in the future. At present there is still no problem in the financial balance of the pay-as-you-go pillar but due to the ageing of population the Czech dominant pillar will certain face to serious problems in case of no modifications. This conclusion arises from the first part of the analysis which also consists of the possible parameter modifications that could keep the system in balanced in long term. The next part is the analysis of the savings in the pension funds as the main alternative to the PAYGs. Each approach has its advantages and disadvantages which are main objects of both analyses in this diploma. Beside of the ability to keep the system stabled in financial terms I examine also the equivalence of contributions to the level of pensions that is important for the motivation of people to be responsible for their financial security in their old-age. The last part deals with the experiences of the pension systems in Chile, Slovak Republic and Sweden from where we could gain the real results of the reformed systems in different way in each country. From the results of these analyses I also give some possible recommendations for the elementary modifications in Czech system in the final part.
|
guest ::
