Komparace penzijních systémů České republiky a Chile do roku 2022

This bachelor thesis compares the pension systems of the Czech Republic and Chile until 2022 with the aim of proposing possible reforms for the Czech pension system. The research has shown major differences in the structure and functioning of the pension systems of both countries. The Czech system is mainly based on a pay-as-you-go first pillar, which emphasises inter- and intra-generational solidarity, while the Chilean system favours individual savings in the second pillar, which consequently provides a higher level of meritocracy. It was also found that Chilean pension funds perform better than the Czech transformed fund, which supports the proposal to abolish this fund in the Czech Republic and transfer the funds to participatory funds under the supplementary pension savings scheme. Finally, the hypothesis that the Chilean pension system is more merit-based than the Czech one is confirmed, although recent reforms in Chile have introduced more extensive solidarity elements that weaken the degree of merit-basedness to some extent.