Contribution to the Research for Adequate and Sustainable Pensions – The Study of the Slovak Republic and the Czech Republic
Contribution to the Research for Adequate and Sustainable Pensions – The Study of the Slovak Republic and the Czech Republic

Author(s): Erika Pastoráková, Zuzana Brokešová, Tomáš Ondruška, Eleonóra Zsapková
Subject(s): National Economy, Demography and human biology, Financial Markets, Socio-Economic Research
Published by: Masarykova univerzita nakladatelství
Keywords: pension systems; Aaron´s rule; population aging; individual old-age security; dependency ratio;
Summary/Abstract: Pension systems have been under great pressure in the last years due to the changes of paradigms which formed the basis for these systems. Therefore systems are undergoing more or less important changes starting with increasing the age of retirement, lowering the amount of pensions and finally introducing a new pension system as it happened in Sweden in the year 2000. The European Commission (“EC”) is aware of the necessity to reform pension systems and therefore the EC asked EIOPA to help and search for measures which are necessary for creating the common market in the area of personal pension products. The EC in the White Paper on Adequate, Safe and Sustainable Pensions encourages to look for and develop supplementary private pension systems and appeals to member states to support them by optimization of tax and other stimuli (Brussels, 16.2.2012). The paper´s ambition is to contribute to the discussion concerning the pension systems. It concentrates on the demographic and economic starting points and predictions valid for the Slovak Republic and the Czech Republic and it discusses the possibilities of more radical changes in the pension systems that have already been realised in some countries.

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