Analýza vývoje důchodového a penzijního systému v České republice od roku 1993 do současnosti

The purpose of this thesis is an analysis of the evolution of the retirement and pension system in the Czech Republic since 1993 up to the present time, with focus on law reform provisions and associated financing methods, applied legislative and institutional framework and encumbrance of public budgets. Many European countries have already performed reformation of their pension systems, the reason mostly being demographic changes and unsustainability of pension financing solely from public budgets. This topic is becoming relevant also in the Czech Republic in view of the II. pillar pension savings introduced in the beginning of the previous year. Nevertheless, this will apparently not be the last step in the context of pension reforms given the unexpectedly low number of participants in the pillar. Overburdening of the public budgets and insufficient provisioning of elder population thus still remain some of the capital problems of the Czech Republic. In the theoretical part we first characterize the theory of public budgets and sketch the significance of the cash flow itself. Next we will define the meaning of retirement and pension systems, their classification according to the type of financing and operation and their respective advantages and disadvantages. We will also determine the main factors influencing the form of these systems. In the practical part we carry out the analysis of the retirement and pension system in the Czech Republic, structured into several time intervals delimited by the effected reform provisions since 1993 until the present. We investigate each of these stages separately, focusing mainly on financing methods and the impact on the public budgets; and further from the point of view of the legislative and institutional frameworks. Finally we will assess the effectiveness of the reform provisions and their impact on the provisioning of elders and the public budgets.