Mámení soukromých penzí

Jedno z nejpodivnějších tvrzení v debatách o sociálním pojištění, jež v současnosti rozčeřily nejbohatší země světa, je to, že státem financované dávkově definované penzijní programy (například americký systém Social Security) jsou zastaralé. Tyto programy vyhovovaly, argumentuje se, průmyslovému hospodářství generací narozených během Velké hospodářské krize a po druhé světové válce, ale v dnešní postindustriální ekonomice špičkových technologií a sítí jsou už nemoderní.

Zastánci tohoto argumentu navrhují jiný model. Tak jako firmy, které dnes raději podporují penze pracujících prostřednictvím příspěvků na soukromé účty zaměstnanců, vlády by také měly nabízet (nebo vyžadovat) příspěvky na účty v soukromém vlastnictví. Hodnota těchto účtů by kolísala s trhem, neboť by se neopírala o dávkově definovaný plán, který zaručuje dostupnost fixní sumy reálných prostředků při odchodu do penze.

Jde o zvláštní argument, protože ekonomii současného stavu bere od nesprávného konce. Když existuje mnoho firem, které pracujícím nabízejí dlouhodobé dávkově definované starobní důchody, je pro vládu méně výhodné zakládat paralelní dávkově definovaný plán a od pracujících požadovat, aby se do něj zapojili. Konec konců, v takovém světě mohou jít ti, kdo si dávkově definovaných penzí vysoce cení, pracovat do firem, jež takové penze nabízejí.

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