Risk Management and Regulation of Defined Contribution Scheme in the Czech Republic. Ji ří Kr á l Director of Social Insurance Department MLSA, Czech Republic ISSA Seminar for Social Security Actuaries and Statisticians : Actuarial Aspects of Pension Reform Moscow, July 4 , 2002.
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Director of Social Insurance Department
MLSA, Czech Republic
ISSA Seminar for Social Security Actuaries and Statisticians :
Actuarial Aspects of Pension Reform
Moscow, July 4, 2002
1992 - Abolishment of preferences in I. pillar
1994 - Introduction of the voluntary supplementary scheme with state subsidy
1995 - Pension Insurance Act
(change in conditions of benefits, increasing of assesment base, change in benefit formula, retirement ages, restrictions in invalidity, EU harmonisation, etc.)
1999 - Amendment of Supplementary scheme
(higher security of assets and introduction of tax incentives)
2000 - Tax incentives for life insurance
(old-age types of products)
(mandatory, state budget, PAYG, uniform for all EA, DB, Old-age + I + Surv., state administration)
(voluntary, FF, DC plans only, state contribution + tax incentives, state supervision)
status as at December 31, 2001 Non-reform ?