The development of an employer's pension scheme and additional private pension scheme in the Czech Republic (after 2012) and its problems

An analysis of development of the pension scheme and an additional private pension scheme after reform shows that these products have not fulfilled their primary function, i.e. to strengthen the role of the third pillar at the system of creation of the total savings for the period of old age, and they are not even able to compete with share funds or with other substitutes offered at the financial market without significant state support.