The impact of divorce on retirement income

Divorce has a considerable impact on the level of income of divorced men and women in retirement. Our analysis shows that divorced women lose an average monthly income in retirement corresponding to 7.1% of their monthly retirement pension. Conversely, men gain monthly retirement income at an average of 2.9% of their monthly retirement pension

Senior guide: how not to lose income while taking early retirement

This study quantifies the financial consequences of six basic options for a number of typical individuals who leave their jobs “by agreement” two years before reaching statutory retirement age. It also outlines the non-financial conditions and consequences of these options. The ideal compromise between the financial and non-financial consequences of each option is left to the preferences of particular individuals

IDEA for the 2017 elections. Seniors' income: work, retirement pensions and their valorisation

Pension valorization settings are crucial in determining how the value of the old age pension will develop in the coming years. At present, the system is set to maintain individuals' real purchasing power throughout their retirement at the level they enjoyed during their working life, but in reality it usually lags behind natural growth in real salaries. The higher the initial old age pension, the more it will lag behind in this way. The way in which the pensions system is currently set up relatively effectively protects Czech pensioners from falling below the poverty line. The seven percent share of the population aged over 65 years who fall below the line is the fourth smallest in the EU. Nevertheless, in most cases the pensions system does not protect pensioners from a substantial reduction in quality of life.\

The impact of motherhood on retirement benefits

In our analysis, we have attempted to quantify the negative impact of motherhood and parenthood on women’s retirement benefit amount, which is linked to the impact of motherhood on the mothers’ wages and employment. We have calculated that motherhood and parenthood reduces women’s retirement benefits by an average of several hundred Czech crowns per month. This is caused both by lower employment and lower earnings due to parenthood. However, the average reduction in women’s retirement benefits due to parenthood never exceeds 8 percent, even if the impact of parenthood on women’s career were twice that shown in the data

Groundwork for the draft law on public insurance and administration of tax on personal income

The study analyzes some aspects of the draft law on public insurance and administration of taxes on personal income. It has been prepared for the Ministry of Finance

The tax system reduces motivation to return to work among mothers with young children: recommendations and evaluation

In the Czech Republic, the overall taxation of work, i.e individuals' income tax together with social security and health insurance contributions, places a heavy burden even on the relatively low earnings of so-called second earners in households, i.e. partners with lower earnings. These peoples' work activity is, however, generally very sensitive to the level of taxation. A large group of these earners is made up of mothers with young children. Mothers who are the second earner in their household are subject to a participation tax rate (PTR) up to 30 % higher than their partners, and yet a higher PTR results in lower motivation to work. Women with children and low earning potential are subjected to the highest PTRs in comparison with their partners

Pension savings schemes with state contributions in the Czech Republic: a prop rather than a pillar

The third pillar should appropriately complement the first pillar, which is thecornerstone of the pension system. It should therefore be set up such that the level ofpayments from third pillar savings reflects how great a proportion of people’s netincomes is replaced after retirement by their old age pension from the first pillar. In this study we analyse working people’s savings behaviour dependent on how largea proportion of their net incomes will be replaced, once they retire, by their statepension from the first pillar. The first pillar old-age pension pays out a lowerproportion of incomes for employees with higher salaries and for the self-employedin particular. Payments from third pillar savings should therefore play a larger rolefor these people

Supporting families with children through the tax and welfare system

The state may provide financial assistance to families with dependent children either by reducing their tax burden or by increasing their welfare benefits. Both means of support increase their net wage, thus providing financial support. This paper provides an overview of financial support amounts provided to families with dependent children or families with the youngest child aged 1 to 3, and of measures limiting such support. The lower tax burden of families with children ensues from lower income tax, not from the social and health care security systems. Within this system, tax support provided to families with children is comparable to that provided to low-income families without children. Additional support provided to families with children includes tax benefits tied directly to children in the family, and tax credit for a dependent spouse. Should the tax system not provide such benefits, families with children, or rather families with a youngest child aged 1 to 3 would have a higher effective tax rate than childless families with comparable income

The profitability of pension system and impact of its reforms on men and women

Based on a representative database of 7,000 men and women, we calculate the profitability of the pension system for men and women and its changes due to "small" and "large" reform. Profitability is measured using an indicator of pension wealth as the difference between the present value of future pensions and future contributions to the pension system. Profitability for individuals varies according to gender, age, income level and other factors

Ekonometrická analýza, zajištění kurzového rizika podniku

Tato diplomová práce zkoumá možnost zajištění pohledávek nejisté velikosti jedné české strojírenské firmy proti kurzovému riziku pomocí finančních derivátů. K odhadu hodnoty nejistých pohledávek jsou použity ekonometrické techniky, jejichž postupy jsou v práci popsány, stejně tak jako základní vlastnosti finančních derivátů