Pension system: A keystone of social state policy

by Michal VANĚK , Jana MAGNUSKOVÁ

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JEL classification

  • Hypothesis Testing: General
  • Household Saving; Personal Finance
  • Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors

Keywords

Family savings, pension system, risk, risk, sociological research

Abstract

Retirement income policies belong to fundamentals of any welfare state. The current demographic development in the Czech Republic reflects badly on its retirement income strategies. This fact should attract our constant attention. There is no doubt that a pension scheme reform is a top priority. This paper focuses not only on the domestic retirement income planning and suggested change but also provides for the brief on approaches to retirement income planning in the neighbouring countries of Slovakia, Austria, Germany, and Poland. The paper also gives and discusses results of sociological investigation concerning retirement income strategies.