Effectiveness of savings in second pillar of the pension system in terms of savers

Prihodnji demografski trendi kažejo na zniževanje rodnosti in podaljševanje življenjske dobe. Slednje pomeni daljše uživanje obdobja upokojitve in s tem povečevanje izdatkov za pokojnine. Zniževanje rodnosti vpliva na nižji delež delovno aktivnega prebivalstva in posledično na zmanjšanje razmerja med številom zavarovancev ter številom upokojenih. Po statističnih podatkih bo navedeno razmerje upadalo tudi v prihodnje, zato bo vedno manj tistih, ki bodo vplačevali v pokojninsko blagajno. Navedeni demografski trendi močno ogrožajo finančno vzdržnost in varnost pokojninskih sistemov. Zaradi tega so države članice EU v zadnjem desetletju reformirale svoje pokojninske sisteme. Ob tem imajo pomembno vlogo dodatna pokojninska zavarovanja, saj lahko le ob kombinaciji vzdržnega javnega pokojninskega sistema ter ustreznega obsega dodatnega pokojninskega zavarovanja pričakujemo dokaj primerno višino pokojnine. Slovenski pokojninski sistem je dolgoročno nevzdržen in ima premajhen obseg dodatnega pokojninskega varčevanja. Strokovna javnost je dlje časa opozarjala na pomanjkljivosti dodatnega pokojninskega zavarovanja in na nujnost sistemskih sprememb, ki bi povečale njegov obseg. Slovenija je s pokojninsko reformo v letu 2013 posodobila dodatno pokojninsko zavarovanje in v večji meri vnesla potrebne spremembe za večjo privlačnost le-tega, predvsem z uvedbo skladov življenjskega cikla, vendar do potrebnega povečanja davčnih olajšav ni prišlo. Prav tako bodo potrebni učinkovitejši ukrepi za večjo promocijo in prepoznavnost dodatnega pokojninskega zavarovanja v Sloveniji. Povprečne mesečne premije v višini 30 do 55 EUR so v prostovoljnem dodatnem pokojninskem zavarovanju v Sloveniji še vedno prenizke, da bi lahko zagotavljale dodatno pokojnino, ki bi zapolnila pokojninsko vrzel posameznika. V Sloveniji znaša nadomestitveno razmerje med prvo pokojnino in zadnjo neto plačo približno 60 % neto plače ob upokojitvi. Po merilih OECD naj bi za dostojno pokojnino znašalo nadomestitveno razmerje med neto plačo pred upokojitvijo in neto pokojnino 70 %. V magistrski nalogi smo analizirali kolektivno prostovoljno dodatno pokojninsko zavarovanje v podjetju X, pri čemer smo ugotavljali, ali bodo dejanska vplačila v PDPZ podjetja X zagotavljala potreben obseg zbranih sredstev za dosego pokojnine v višini 70 % nadomeščanja plače pred upokojitvijo. Cilj naloge je ugotoviti, ali je to varčevanje učinkovito z vidika doseganja pokojninske rente, ki bi posamezniku omogočala skupno pokojnino (iz prvega in drugega stebra) v višini 70 % nadomestitvenega razmerja. Ciljno nadomestitveno razmerje je v podjetju X mogoče doseči, v kolikor zaposleni z varčevanjem prične takoj ob zaposlitvi, tudi sam vplačuje svoj delež premije in v času varčevanja privarčevanih sredstev pred upokojitvijo ne dviguje ter nenamensko porabi.Future demographic trends indicate a reduction in the birth rate and a longer life expectancy. That means a longer period of retirement enjoyment and thereby pensions expenditure rising. The birth rates reduction affect on a lower proportion of the working age population and, consequently, on the declining of the ratio between the number of insured and the number of people retired. According to statistical data, the mentioned ratio is going to decline in the future, therefore there will be less people depositing in the public pension system. Demographic trends significantly threaten the financial sustainability and security of the pension system, therefore, the EU member states have reformed their pension systems in the last two decades. At the same time, supplementary pension insurance has an important role, since only the combination of a more sustainable public pension system and an adequate value of supplementary pension insurance enable us to expect an appropriate pension value. The Slovenian pension system is a long-term unsustainable and has the low level of supplementary pension saving. The professional public has been highlighting the shortcomings of voluntary supplementary pension insurance and on the urgency of systemic change, which would increase its range, for a long time. Slovenia’s pension reform in 2013 updated the supplementary pension insurance and implemented the necessary changes, to improve the attractiveness of it, especially with the introduction of life cycle funds, but the necessary increased tax deduction did not occur. More effective measures for a greater promotion and visibility of the system, will be required. The average monthly premiums in the amount of EUR 30 to EUR 55 in the voluntary supplementary pension insurance in Slovenia are still too low, to provide an additional pension which would fill the pension gap of individuals. The replacement ratio between the first pension and the last net salary present about 60% net salary before retirement, in Slovenia. According to the OECD criteria, a decent pension replacement ratio between the net salary before retirement and the net pension should be 70 %. We have analysed the collective voluntary supplementary pension insurance in the company X, which was used to determine whether the actual deposit of company X provides the necessary amount of the funds collected, in order to achieve a pension of 70 % replacement of earnings before retirement. The aim of the thesis is to determine whether this is an effective saving in terms of achieving a pension annuity, allowing individuals a total pension of 70 % replacement ratio. The target income replacement ratio at the company X can be achieved, as long as the employee begins with savings immediately upon recruitment, pays his/her share of the premium and does not withdraw the money saved, before retirement, for any unintentional consumption