Comparison of the Pension Systems of the Czech Republic and Canada in Terms of Structure and Financing in the Years 1995–2024 and Recommendations for Their Improvement

This thesis focuses on a comparative analysis of the pension systems in the Czech Republic and Canada, with an emphasis on their structure, financing methods, and long-term sustainability. The main objective is to identify the strengths and weaknesses of both systems and to propose recommendations for their potential improvement. The analysis is based on the theoretical framework of welfare state typologies and structural principles of pension systems, which are subsequently applied in the practical part. The results confirm that the Canadian system demonstrates a higher level of long-term financial sustainability, primarily due to its combination of pay-as-you-go and funded financing, along with effective surplus management. In contrast, the Czech system is characterized by a higher degree of solidarity but suffers from a lack of diversification and greater dependency on demographic trends. The thesis confirms the hypothesis regarding the sustainability of the Canadian system, while the hypothesis suggesting its higher solidarity is disproved. The findings highlight the importance of individual responsibility in the Canadian model and open the door for further consideration of introducing a funded component and strengthening voluntary pension savings in the Czech context.