Generational Differences in Preferences for Public and Private Pension Provision in the Czech Republic in the Context of Pension Reforms (2011–2025)

This bachelor thesis deals with the analysis of the pension system in the Czech Republic, focusing on intergenerational differences in the approach to old-age security. The aim of the thesis is to evaluate the development of the pension system in the period 2011–2025 and to empirically verify whether the younger generation shows a higher willingness to rely on private forms of security compared to the older generation. The theoretical part defines the functions and pillar structure of the system and introduces behavioral concepts such as the Life Cycle Theory and Prospect Theory. The practical part analyzes demographic and economic factors and interprets the results of the author's own questionnaire survey (n = 103). The survey brought specific data on intergenerational polarization, where 82% of respondents under the age of 35 expressed a lack of trust in the sustainability of the state system, while among the generation over 50, this skepticism was 25 % lower. In the area of preferences, a shift towards riskier investment tools, such as stocks or ETFs, was identified, which is preferred by 45% of younger respondents, compared to the older generation, which shows a strong inclination towards products with state contributions (68%). The research thus confirmed the trend of lower trust of younger respondents in the state system and their higher tolerance for financial risk. The results substantively support the set hypothesis about generational differences in pension security preferences and confirm the trend of growing individual responsibility among the upcoming generations.