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A Microanalysis of Pension Reform: To Switch or Not to Switch in the Czech Republic?

Author

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  • Michal Ježek

Abstract

This paper examines the microeconomic impact of a reform of the Czech pension system in which the program is partially shifted from a public, unfunded basis to a private, funded basis. It considers three different scenarios in which individuals have the choice to switch some of their mandatory contributions into a funded scheme in exchange for a proportionate reduction in their traditional public pension benefits. It attempts to discern, based on gender, age and income, which workers would be better off switching, and offers some recommendations for policy makers. In particular, the impact of mandatory switching on individuals with low earning capacities is examined and discussed.

Suggested Citation

  • Michal Ježek, 2003. "A Microanalysis of Pension Reform: To Switch or Not to Switch in the Czech Republic?," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 53(11-12), pages 510-538, December.
    • Handle: RePEc:fau:fauart:v:53:y:2003:i:11-12:p:510-538
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    File URL: http://journal.fsv.cuni.cz/storage/954_03_510-538.pdf
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    Cited by:

    1. Robert Jahoda & Jiøí Špalek, 2009. "Pension Reform through Voluntary Opt-Out: The Czech Case," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 59(4), pages 309-333, Oktober.

    More about this item

    Keywords

    pension reform; social security; Czech Republic;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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