How profitable are savings in the third voluntary pillar of the Czech pension system?

Saving in the third voluntary pillar of the pension system is very popular in the Czech Republic. At the end of 2016, a total of 4 518 832 citizens had savings accounts. Total savings were 383,032.01 million CZK. One of the fundamental problems of the third pillar, which does not contribute to its popularity (especially in young generations), is a low deposit valorisation. The reason is that the valorisation often covers only the inflation and sometimes, not even as much. The situation would be even worse if there were not financial support from the state in the form of contributions and tax reliefs or from employees.