Old age pension

The aim the thesis is to describe the legislation of old age pension in the Czech Republic which is currently being in a process of significant change due to unfavourable demographical development in our country - birth-rate is decreasing, average life expectancy is increasing as well as the average age of a population. The result of ageing of the Czech population is an inability to maintain the current system, because of its financial demands. Old age pension is the most common benefit of a social insurance and its costs represent the highest expenses of the social insurance. Old age pension is supposed to substitute the loss or restriction of a salary which are caused by the age as well as by social occurrence. The thesis is composed of five chapters. The most important terminology related to old age pension is defined in the first part, followed by the description of its historic development, which has had an impact on the Czech legislation used nowadays. The paper also focuses on the conditions of an old age pension legitimate claim and describes the process that is used in terms of social insurance procedure. The Czech old age pension scheme was compared to the one used in the United States of America and Slovakia and also the current old age pension reform was explained. The third chapter is the most..