Contributions for pension savings This thesis in the first place deals with the contributions of pension savings and the process of it's administration. The purpose of my thesis is a description, analysis and evaluation method of selection contributions for pension savings. The thesis is based on some new concepts that are associated with administration of insurance. It means that new contributions for pension savings are closer to taxes than to the premiums for social security. The basic source of legislation is Act No. 397/2012 Collection of Laws, about contributions for pension savings (ACPS). This thesis is divided systematically into six chapters. The first chapter is introductory. This chapter defines the aim, the methods of use and literature. The second chapter briefly describes the implementation of the pension reform, focusing on II. pillar, it's current status, proposed changes and possible future developments. The largest chapter is Chapter Three - financing of retirement savings. The starting point for description, analysis and evaluation of the regulation of contributions is Comment to the Act about contributions for pension savings. The third chapter is divided into five parts - Legislation before taking ACPS, approval of new legislation, contributions, administration of contributions...

Legal regulation of pension companies and pension funds The Master's thesis concentrates on the main issues of the legal regulation of pension companies, the designated providers of pension savings and supplementary pension savings in the Czech Republic. The thesis evaluates the reform of the pension schemes constituted by Act No. 426/2011 Coll., on Pension Savings, Act No. 427/2011 Coll., on Supplementary Pension Savings, and Act No. 428/2011 Coll., amending Certain Acts in Connection with the Adoption of the Act on Pension Savings and the Act on Supplementary Pension Savings. The thesis is divided into nine chapters. Chapter 1 is an introductory part defining the purpose of the thesis. Chapter 2 describes the pension savings regulation in the Czech Republic prior to the reform's effective date (i.e., 1 January 2013). Chapter 3 describes the pension reform and its justification. Chapter 4 concentrates on the pension companies as the managers of pension funds and supplementary pension funds. The regulation of pension funds is described in Chapter 5 while the regulation of supplementary pension funds is described in Chapter 6. Chapter 7 deals with the regulation of the (supplementary) pension funds' distribution. Chapter 8 suggests certain modifications of the reform package and discusses possible...

<p>I analyze a large number of investment decisions based on theories that have been developed and formalized over the past 50 years. Previous work in this field unveils a number of biases which affect ones choices when the outcome is uncertain. In my thesis I find evidence of these already known biases and focus on finding rational explanations for their existence. I also introduce two unexplored biases; the homeboy bias and the menu bias.</p><p>The results clearly indicate that sophisticated investors are generally less subject to these biases. Since pension schemes in many nations are shifting towards defined contribution schemes, investment decisions and risk preferences will be of great consequence to investors’ personal economy and ability to consume, affecting the economy in general. It is therefore of great importance that policy makers do all that they can to increase investors sophistication and create a playing field which facilitates economically sound investing.</p>

I analyze a large number of investment decisions based on theories that have been developed and formalized over the past 50 years. Previous work in this field unveils a number of biases which affect ones choices when the outcome is uncertain. In my thesis I find evidence of these already known biases and focus on finding rational explanations for their existence. I also introduce two unexplored biases; the homeboy bias and the menu bias. The results clearly indicate that sophisticated investors are generally less subject to these biases. Since pension schemes in many nations are shifting towards defined contribution schemes, investment decisions and risk preferences will be of great consequence to investors’ personal economy and ability to consume, affecting the economy in general. It is therefore of great importance that policy makers do all that they can to increase investors sophistication and create a playing field which facilitates economically sound investing.

Работа состоит из введения, трех глав, заключения, списка литературы, изложенных на 91 странице машинописного текста. Цифровой и графический материал представлен в 20 таблицах и 19 рисунках. Список литературы содержит 75 наименований. Во введении обоснована актуальность темы исследования, определены цель и задачи, выделены объект и предмет исследования, рассмотрена методологическая и информационная база, раскрыты научная новизна и практическая значимость работы, приведена апробация результатов исследования. В первой главе раскрывается сущность понятия инвестиции, его виды и особенности; описываются положения, раскрывающие специфику формирования инвестиционного портфеля физическим лицом; рассматривается мировой опыт инвестиций физических лиц. Во второй главе проводится оценка эффективности формирования пенсионных накоплений как способа инвестирования; анализируются возможности инвестирования физическими лицами с использованием различных инструментов; проводится анализ тенденций развития рынка инвестирования для физических лиц. В третьей главе работы рассматриваются существующие и предлагаются усовершенствованные методы стимулирования инвестирования физическими лицами; производится прогнозный расчет потенциального дохода инвестиционного портфеля абстрактного индивидуального инвестора. В заключении подводятся итоги проведенного исследования; делаются основные выводы и обобщаются предложения по решению проблем инвестирования физическими лицами в России. / The work consists of an introduction, three chapters, a conclusion, a list of references, set out on 91 pages of typewritten text. Digital and graphic material is presented in 20 tables and 19 figures. The list of references contains 75 titles. In the introduction, the relevance of the research topic is substantiated, the purpose and objectives are defined, the object and subject of the study are highlighted, the methodological and information base is considered, the scientific novelty and practical significance of the work are disclosed, the approbation of the research results is given. The first chapter reveals the essence of the concept of investment, its types and features; describes the provisions that reveal the specifics of the formation of an investment portfolio by an individual; examines the world experience of investment by individuals. The second chapter evaluates the effectiveness of the formation of pension savings as a method of investment; analyzes the investment opportunities of individuals using various tools; analyzes the trends in the development of the investment market for individuals. In the third chapter of the work, existing and improved methods of stimulating investment by individuals are considered and proposed; a forecast calculation of the potential income of the investment portfolio of an abstract individual investor is made. In conclusion, the results of the study are summarized; the main conclusions are made and proposals for solving the problems of investing by individuals in Russia are summarized.

The thesis investigates determinants of participation in the supplementary pension savings scheme in the Czech Republic and estimates their change with respect to the policy intervention realized in 2013. Using the time series of cross-sectional microeconomic data provided by the Statistics on Income and Living Conditions, the probability of participation and the level of contributions are estimated separately by probit and multiple linear regressions, respectively. The estimated coefficients of both models are tested for structural differences caused by the policy change, employing the pooled dataset of multiple years with additional coefficients to treat the compared period. The analysis confirms that income, age, education and economic activity have a positive effect on both the probability of participation and expected level of contributions. Whereas gender differences for the level of contributions have not been detected, single women on average show, ceteris paribus, 4.6 percentage points higher probability of participation than single men. Unexpectedly high level of activity was observed in case of retired individuals, who in 2014 represented approximately 15% of all participants and collected 20% of the credited direct state subsidy. With respect to the 2013 policy change, no evidence of a...

This thesis aims at using marketing research to determine customer satisfaction of university students with the third pillar of the pension system. The first section describes the objectives of the work, including the necessary methods. The following theoretical part deals with basic concepts of marketing, marketing research, as well as defining the customer and his satisfaction, including methods by which satisfaction is measured. In addition, there is a description of the general operation of pension systems and individual pillars. The practical part includes marketing research, evaluation of the collected data and own suggestions for improving this product.

The pension system in Sweden today is a very simple system. Taxed incomes generate pension incomes, paid out monthly after retirement. Yet the topic seems riddled with emotions; guilt, shame and anxiety over what you should or should not do. Increasing inflation, population age and climate change are projected to pose big threats to pensions in the coming decades. By 2060, pension incomes are projected to diminish substantially. Yet the future brings hope too; the gender gap in pension incomes is today at 30% and is projected to go down to 4% by 2040 as the changing view on women in the workplace and policy making is evening the (occupational) field. To learn about pension on the personal, professional and societal layers, I conducted conversations with professionals working for the pension agency, banks, savings solutions and researchers at economics and sociology departments at universities, as well as with individuals with pension planning on their minds (or not). The professionals argued that financial literacy teaches how simple the system is while the individuals feel overwhelmed and confused, showing that the system is not complicated but feels complicated. This dissonance became the space for designing. I propose to look at money as an actor we have a relationship with, to scale away guilt, shame or anxiety and leverage the positives. Through the strategic use of reflection, we learn about our ongoing relationship with money; formed in childhood, and shaped by everyday life planning towards the future. Thus, we grow towards a life where money serves us by investing in our values, hopes and dreams. As we change our financial behaviour today, we change our relationship in the future. The value of money does not start with the currency, but with the intention of use, in the hopes and dreams of a person that wants to spend their time with families and hobbies, not with stocks and funds. Looking at financial planning more holistically shows how the established system is biased, rejecting those that do not speak the language. We as designers can be mindful of this and make more inclusive tools to learn this financial language. Insofar the system can be changed is what I examine through speculative futures methods and designs.

By the end of the twentieth century, the generous German public pay-as-you-go pension system had been struggling with a serious deficit due to the country’s ageing population. In 2001, the German government enacted the “Riester” pension reform, named after Mr. Walter Riester, the Labour Minister brokering it, which reduced the level of publicly provided pensions, and strengthened the funded occupational and private pillars in order to replace the loss in retirement income. This thesis investigates the role and structure of occupational pensions during the Riester-reform and in its aftermath, using an economic geography perspective. In doing so, it discusses the role of trade unions and employer associations (social partners) in moulding the structure of the occupational system, and investigates the geography of occupational pensions both at employer and at employee level. Empirically, the thesis is based on an in-depth interview with Mr. Walter Riester, and a unique, proprietary data-set of a German occupational pension provider, containing information on 332 thousand employees and over 12 thousand employers. The results show that the internal division of social partners played a critical role in leaving occupational pensions voluntary, but they have been successful in setting standards on the occupational pension market by means of collective bargaining. Employers and employees show systematic spatiotemporal patterns in their pension-related decisions, confirming the importance of local relationships and local contexts in implementing social partners’ measures and in the transformation of the welfare state. It is finally pointed out that the Riester-reform was a part of a gradual transition, which has been reducing employers’ autonomy in order to reinforce the social role of occupational pensions. To achieve that and to catalyse the reform process, employers’ and employees’ risk exposure has been mitigated in the hope that old-age poverty can be avoided.

The aim of this study was to highlight the final evaluation of the money invested in pension insurance due to the client's age and to develop model examples for various types of participants in pension plans. This aim of the study was achieved through the data collection, analysis, calculation and deduction of results.The performed analysis allowed to assess the profitability of pension. It enabled insight into the situation III. pillar pension system. It referred to the total amount saved after the end of the savings and to the number of percentage return the savings bring.It was concluded that pension schemes are only worth it for a short term. After some time, profitability is greatly reduced.