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Imperfect Capitalized Pillar of Czech Pension System
[Nedokonalý kapitalizovaný pilíř důchodového systému]

Author

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  • Petr Musílek

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.

Suggested Citation

  • Petr Musílek, 2013. "Imperfect Capitalized Pillar of Czech Pension System [Nedokonalý kapitalizovaný pilíř důchodového systému]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2013(2), pages 50-60.
    • Handle: RePEc:prg:jnlcfu:v:2013:y:2013:i:2:id:339
    DOI: 10.18267/j.cfuc.339
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    References listed on IDEAS

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    1. Monika Queisser, 1998. "Regulation and supervision of pension funds: Principles and practices," International Social Security Review, John Wiley & Sons, vol. 51(2), pages 39-55.
    2. Jeannine Bailliu & Helmut Reisen, 1998. "Do funded pensions contribute to higher aggregate savings? A cross-country analysis," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 134(4), pages 692-711, December.
    3. Feldstein, Martin S, 1976. "Social Security and Saving: The Extended Life Cycle Theory," American Economic Review, American Economic Association, vol. 66(2), pages 77-86, May.
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    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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