Visegrád countries were forced to adopt a widespread pension reform due to demographic facts. This reform led to the creation of the 2nd pillar. This thesis deals with this new funded pillar, which should facilitate the financing of the PAYG system (1st pillar). Using comparative analysis I reveal why all of Visegrád countries reduce 2nd pillar after several years of its functioning. The most common reason for this reducing was an effort to improve the unsatisfactory situation of public finances. The abolition of 2nd pillar actually leads to a certain improvement of public debt and deficit, but this positive effect is only short-term. More specifically I focus on the arguments of the Government for the abolition of the funded pillar in the Czech Republic, which I consider largely baseless. I also discuss the possible impacts of the reducing of the 2nd pillar. Currently, the countries of V4 try to save their pension systems using the 3rd pillars, however the current form of this supplementary pillar cannot provide a sufficient financing of the PAYG system.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:192955 |
| Date | January 2013 |
| Creators | Hlavová, Kristýna |
| Contributors | Ježek, Tomáš, Damborský, Milan |
| Publisher | Vysoká škola ekonomická v Praze |
| Source Sets | Czech ETDs |
| Language | Czech |
| Detected Language | English |
| Type | info:eu-repo/semantics/masterThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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