Imperfect Capitalized Pillar of Czech Pension System

Nedokonalý kapitalizovaný pilíř důchodového systému

Petr Musílek

Český finanční a účetní časopis, 2013, vol. 2013, issue 2, 50-60

Abstract: The aim of this paper is not only to explain the role of retirement funds in the Czech pension system, but also to evaluate how effectively the new system has been working up to now. Owing to population ageing and the debt problems of the most developed countries, as well as maturing of existing pay-as-you-go systems, there is a widespread trend in the developed countries moving towards capitalized pension funds in the modern retirement system. Particular attention will be paid to the systematic defects in the II pillar Czech pension system, which is characterized by the insufficient demand for this new financial product. As a solution to the institutional imperfection the participation in the II pillar should be mandatory.

Keywords: Pension system; Retirement savings; Retirement funds; Penzijní systém; Důchodové spoření; Důchodové fondy (search for similar items in EconPapers)
JEL-codes: G23 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.18267/j.cfuc.339

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