On one of possible scripts of pension system reform in the Czech Republic

The aim of this article is to propose script of the reform of pension system in Czech Republic, which could be accomplished. It deals only and just only with old age pension, because values of other types of pension's benefits are much less and the proper reasons of these benefits are jointed with different types of risk. The reformed pension system has to be such, that we can finance it even against unfavourable progress of demographic structure goes on and that we are able to keep up living standard of pensioners. The proposed system is three-pillar and the essential part of the reform has duration of 32 years.demographic crisis, PAYG, pension found, transformation