Podrobný výpis o publikaci

Personal pensions play distinct roles under different welfare regimes. Under the liberal and social-democratic régime there is no place for state support of personal pensions and other financial products. The conservative pension régime utilizes the deductions of the contributions from the progressive income tax base and the full taxation of the benefits (EET tax regime). Under the (Czech) flat-rate income tax, the TEE tax regime is much simpler. The room for the personal pensions in individual countries depends on the existing pension gap left after the public and occupational pensions and on the quality of the personal pension products, which is substantially influenced of their price and comprehensiveness for the clients. There is a visible tendency to use the collective defined contribution (CDC) products. The private sector is not able to provide life annuities – and there is the only solution to use a state pension institution. Not much better is the supply of simple savings products – also here it is important to define the role of the state pension institution (of the British or Swedish type) and the choice of their products. There are also tendencies to integrate original personal pensions with housing investments or with individual savings accounts. The Czech system of personal pensions is chaotic and non-constitutional; there are no equal conditions pro all products, their providers and clients, including employers. A minimum reform programme is the unification of the tax regimes to the TEE one, where the contributions have been taxed and the pay-outs are not taxed.