In Czechia two pension reforms on liberal and neoliberal bases have occurred. In the first part of nineties the Klaus' reform generated a supplementary pension insurance product, as an addition to the predominantly Beveridgean system of public pensions. A partial privatization of public pensions was the vision of the unsuccessful large pension reform of the Nečas' government. The employees basically did not show interest in opting-out into this scheme. This reform included a transformation of the supplementary pension insurance to a supplementary pension savings scheme which ignored the prevalent application of the behavioural economics in this area abroad at present. The contemporary visions of the pension reforms rely on simple, comprehensible and low-cost pension schemes. The rationalization of the Czech pension system needs primarily a separation of the public pillar into two parts: a basic state pension and a state earnings-related pension and also an abolition or minimization of the state support of private financial products.