Daňové souvislosti dobrovolného spoření na stáří v ČR

This master´s thesis evaluates the efficiency of the voluntary pension savings system in the Czech Republic, focusing on a comparison between the traditional supplementary pension savings scheme and the newly introduced Long-Term Investment Product. Through model examples, it demonstrates that the lower fee burden on the new instrument can fully compensate for the lack of state contributions over a long horizon. Findings regarding participant behaviour further reveal that legislative tax incentives remain largely secondary, whereas employer contributions and direct state support serve as the primary motivations for joining the system. An international OECD comparison then highlights the structural weaknesses of the domestic market, which is characterized by above-average costs alongside conservative investment portfolio setups. Based on these findings, the thesis proposes optimalization measures aimed at a more effective system setup and a better-targeted allocation of public resources.