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Do Investment Products Under the Tax Regime of the Long-Term Investment Product Need Regulation of Entry Fees?
[Potřebují investiční produkty v režimu dlouhodobého investičního produktu regulaci vstupních poplatků?]

Author

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  • Petr Pecina

Abstract

Significant changes in tax benefits starting in 2024 are driving shifts in the business strategies of companies distributing products under the tax regime of the long-term investment product. In the professional community, proposals are emerging for the potential regulation of entry fees for long-term investment products. This paper discusses the possible impact of regulating intermediary commissions on the overall sales volume of these state-supported products. The impact of pension product regulation on the functioning of the market for these products has been addressed in past publications by authors such as Šindelář and Erben (2017), as well as Musílek (2018). In this paper, I focus on the paradox of commission regulation for otherwise state-supported products and the self-regulating function of entry fees in determining commission levels. The introductory section compares retirement savings products from the perspective of the business strategies of distribution companies. This is followed by a comparison of the effects of two basic forms of entry fees. The final section explores additional implications of potential entry fee regulation.

Suggested Citation

  • Petr Pecina, 2025. "Do Investment Products Under the Tax Regime of the Long-Term Investment Product Need Regulation of Entry Fees? [Potřebují investiční produkty v režimu dlouhodobého investičního produktu regulaci vs," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2025(1), pages 4-26.
    • Handle: RePEc:prg:jnlcfu:v:2025:y:2025:i:1:id:609:p:4-26
    DOI: 10.18267/j.cfuc.609
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    References listed on IDEAS

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    1. Ludmila Fadejeva & Olegs Tkacevs, 2022. "The effectiveness of tax incentives to encourage private savings," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 22(2), pages 110-125.
    2. repec:ers:journl:v:xxiv:y:2021:i:special1:p:975-988 is not listed on IDEAS
    3. Bartosz Chorkowy & Agnieszka Bobrowska, 2021. "Influence of Pillar 3 of Pension System on Retirement Pensions Level in Poland: Will Voluntary Part of System Enable Decent Life in Old Age?," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 1), pages 975-988.
    Full references (including those not matched with items on IDEAS)

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    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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