Foreword

This Pension Review provides an assessment of the Czech Republic’s retirement income provision from an international perspective and focuses on the capacity of the pension system to deliver adequate retirement income in a financially sustainable way. The review highlights OECD best practices for the design of pensions by covering all components of pension systems: safety nets, public pay-as-you-go schemes and private funded plans. The analysis is based on both OECD flagship pension publications, Pensions at a Glance and Pensions Outlook, and country-specific sources and research.

The report was prepared by a team of pension analysts from three OECD Directorates: the Directorate for Employment, Labour and Social Affairs, the Directorate for Financial and Enterprise Affairs and the Economics Department: Pablo Antolin, Boele Bonthuis, Hervé Boulhol, Falilou Fall, Christian Geppert and Stéphanie Payet. Paul Cahu, independent consultant, contributed to Chapter 2. Editorial assistance was provided by Liv Gudmundson and Lucy Hulett.

The OECD is very grateful to numerous public officials in both the Czech Ministry of Labour and Social Affairs – particularly, Tomas Machanec (Director), Jan Skorpik (Head of Actuarial Matters), Hana Zelenkova, Marek Suchomel and Eva Nemeckova (Experts), and Jiri Satava (Head of Conceptual Analytical Department) – and the Czech Ministry of Finance – particularly, David Prusvic (Director), Zbynek Stork (Head of Economic Modelling) and Jindrich Marval (Head of Fiscal Policy and Sustainability) – and to Ota Melcher (Economic and Financial Counsellor) from the Czech Delegation to the OECD for their invaluable help and input. The report benefited greatly from discussions with a wide range of experts and officials during the OECD mission in Prague in January 2020, and with Delegates of the OECD Working Party on Social Policy.

The authors are very grateful to Stefano Scarpetta (ELS Director), Mark Pearson (ELS Deputy Director), Monika Queisser (ELS Head of Social Policy Division) and Maciej Lis, Tomoko Onoda and Andrew Reilly (ELS Pension Analysts) for their useful comments. The Review was written under the overall supervision of the OECD Secretary-General, Angel Gurría.

The opinions expressed and arguments employed herein should not be taken to reflect the official views of the government of the Czech Republic.

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