A comparison of existing a proposed pension system in the Czech Republic

This bachelor thesis deals with a comparison of existing a proposed pension system in the Czech Republic, which should take effect from 1st January 2013. In the first chapter I describe the existing pension system, the principles of its operation, its most significant advantages and disadvantages. I also describe the factor that cause the problems in the system and that are the main arguments in benefit of the need for pension reform. In the second chapter I describe the new pension system in the form in which it was adopted by the Parliament on 6th November 2011. Mainly I draw attention to the most significant changes that should occur after 1st January 2013. The third chapter contains a case study that compares the probable amount of the proper old age pension in the existing system and new system. I reconnoitre if the new system is advantageous for the insured