| Abstract: |
This study focuses on a description and a comparison of the pension systems in chosen countries: the Czech Republic, Germany, Sweden, Switzerland and Great Britain. Re-garding a sustainability of pension systems on one hand, there is the unfavorable demo-graphic development and the scope of social programs; on the other hand, there are sys-tem parameters that motivate to a certain behavioral pattern. The core question of this study is: How do pension systems influence individual’s decision regarding an exit from labor force through its parameters like replacement ratio, statutory retirement age or tax implied? What is the extent of the influence on a decreasing participation rate? The con-clusion is that pension systems do encourage individuals to an early retirement through its parameters. In addition, this study discusses the generosity of the pension systems and its progressiveness; it states that progressive pension systems are the less generous ones and vice versa. Finally, the reform paths of chosen countries and the sustainability of their pension systems are researched. |
