NDC systen in Czech Republic

The subject of this thesis is application of Notional Defined Contribution system in Czech Republic. In this pension system everybody has his own individual pension account on which he or she saves money. Interest is accredited to this account. When this person retires, the pension is calculated based on pension account balance. Contributions do not really stay in pension system, but they are paid to current pensioners (resemblance to PAYG system). In first chapter I deal with pension systems in general, in second chapter I deal with theoretical NDC system. In third chapter I analyze practical application of NDC system in Sweden. Fourth part of this thesis analyses the possibility of introducing NDC pension system in Czech republic.