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Some Annuity Problems in the Framework of Czech Pension Systems

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  • Tomáš Cipra

Abstract

The contribution analyzes some life annuity aspects of the pension system (including commercial insurance) in the Czech Republic. In particular, the problem of sustainability, the Generation Life Tables for the pension system and the gender problem for the pensions in the Czech Republic are discussed. Such topics are important for the future of the pension system in the Czech Republic and for the necessary pension reform. Some numerical results with the Czech data concerning these aspects are presented including corresponding conclusions. Economic theory of pensions (see e.g. Sheshinski, 2005 or Uebelmesser, 2004) is not considered here.

Suggested Citation

  • Tomáš Cipra, 2013. "Some Annuity Problems in the Framework of Czech Pension Systems," Prague Economic Papers, University of Economics, Prague, vol. 2013(3), pages 307-323.
  • Handle: RePEc:prg:jnlpep:v:2013:y:2013:i:3:id:454:p:307-323
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    References listed on IDEAS

    as
    1. Milevsky, Moshe Arye, 1997. "The present value of a stochastic perpetuity and the Gamma distribution," Insurance: Mathematics and Economics, Elsevier, vol. 20(3), pages 243-250, October.
    2. Cannon, Edmund & Tonks, Ian, 2008. "Annuity Markets," OUP Catalogue, Oxford University Press, number 9780199216994.
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    More about this item

    Keywords

    pension system; Generation Life Tables; life annuities; longevity risk; sustainability of pensions; Unisex Life Tables;

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D30 - Microeconomics - - Distribution - - - General
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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