Abstrakt
The problem of ageing population is increasing. So, the governments in different countries are trying to find some solution of the deficit of the pension systems and so different types of reforms suggest itself.
These reforms can be only parametric or can be also systematic. The parametric reform is represented mainly by the increase of the pension age and by the increase of the minimum insurance period.
But it needn't be satisfactory and for that reason a lot of governments in the middle and east Europa were trying to realize the systematic reform that consists in the introduction of the second pillar of the pension system that is called obligatory funds system. This second pillar extends the first and third pillar.
The first pillar is represented by the pay as you go system and the third pillar by the voluntary pension funds. The aim of the second pillar of the pension system is to arrange the individual pension savings accounts that would be for the future the main source of the pension allowances of the individual policyholders.
The disadvantage lies in the beginning of this system, because the individual savings represents the loss for the first pillar of the pay as you go system. The possible solution of this problem lies in the privatization of some state firms for the purpose to obtain money for the beginning of these pension reforms.
These reforms were realized in some countries of the Middle and East Europa, for example in Czech Republic, Poland, Slovakia, Rumania, Bulgaria and the like, but these reforms were not successful, because very little persons changed the first pay as you go pillar and entered into the second obligatory funds pillar. For that reasons this pillar in most countries is deteriorating.
This pillar was even cancelled in the Czech Republic. The most important reason of this failure is some distrust to the funds after the great problems with the privatization realized in these countries after the period of the socialism.