![](\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/06\/cerebras.jpeg\")
<\/a>Reforma penzijka? P\u0159\u00edle\u017eitost, ne hrozba<\/p>\nMinisterstvo financ\u00ed letos p\u0159edstavilo n\u00e1vrh reformy penzijn\u00edho spo\u0159en\u00ed, kter\u00e1 by mimo jin\u00e9 v\u00fdrazn\u011b sn\u00ed\u017eila maxim\u00e1ln\u00ed poplatky penzijn\u00edch fond\u016f. Zat\u00edmco penzijn\u00ed spole\u010dnosti varuj\u00ed, \u017ee by pro n\u011b nov\u00fd model mohl b\u00fdt ekonomicky problematick\u00fd, XTB v\u00a0tom z\u00e1sadn\u00ed hrozbu nevid\u00ed.<\/p>\n
\u201eNeboj\u00edme se. Naopak to vid\u00edm jako p\u0159\u00edle\u017eitost,\u201c \u0159\u00edk\u00e1 Holovka. Podle n\u011bj toti\u017e reforma p\u0159ivede v\u00edce lid\u00ed k\u00a0investov\u00e1n\u00ed obecn\u011b. XTB nav\u00edc c\u00edl\u00ed na jin\u00fd typ klienta ne\u017e penzijn\u00ed fondy. \u201eNec\u00edl\u00edme \u00fapln\u011b na ty investory, kte\u0159\u00ed k\u00a0investic\u00edm nemaj\u00ed n\u011bjak\u00fd vztah. Na\u0161e snaha je uspokojovat pot\u0159eby lidem, kte\u0159\u00ed v\u011bd\u00ed, \u017ee by m\u011bli investovat,\u201c vysv\u011btluje.<\/p>\n
A zat\u00edmco penzijn\u00ed spole\u010dnosti tvrd\u00ed, \u017ee p\u0159i poplatku 0,5\u00a0procenta ro\u010dn\u011b bude velmi obt\u00ed\u017en\u00e9 podnikat, Holovka m\u00e1 jin\u00fd n\u00e1zor.\u00a0\u201eMy to dok\u00e1\u017eeme,\u201c \u0159\u00edk\u00e1 jednozna\u010dn\u011b. Podle n\u011bj bude muset cel\u00fd sektor v\u00edce s\u00e1zet na digitalizaci a\u00a0\u0161k\u00e1lovateln\u00fd online model.\u201e V\u00a0tom star\u00e9m modelu, kdy si n\u011bjak\u00fd poradce sedne s\u00a0\u010dlov\u011bkem a\u00a0str\u00e1v\u00ed tam dv\u011b hodiny, to asi opravdu funk\u010dn\u00ed nebude,\u201c dod\u00e1v\u00e1.<\/p>\n
Rozjezd DIP i\u00a0spo\u0159ic\u00edch produkt\u016f<\/p>\n
Segment \u00faspor na st\u00e1\u0159\u00ed je tak atraktivn\u00ed i\u00a0pro XTB. B\u011bhem p\u0159\u00ed\u0161t\u00edch dvan\u00e1cti m\u011bs\u00edc\u016f chce spustit vlastn\u00ed dlouhodob\u00fd investi\u010dn\u00ed produkt (DIP), kter\u00fd umo\u017en\u00ed vyu\u017e\u00edvat da\u0148ov\u00e9 v\u00fdhody obdobn\u011b jako jin\u00e9 produkty ur\u010den\u00e9 na spo\u0159en\u00ed na st\u00e1\u0159\u00ed. \u201eNa horizontu 12\u00a0m\u011bs\u00edc\u016f bychom to m\u011bli zvl\u00e1dnout, sp\u00ed\u0161e d\u0159\u00edve,\u201c uvedl Holovka.<\/p>\n
Co to je DIP?<\/p>\n
DIP (dlouhodob\u00fd investi\u010dn\u00ed produkt) se od 1.\u00a0ledna\u00a02024\u00a0stal nov\u00fdm, st\u00e1tem podporovan\u00fdm investi\u010dn\u00edm produktem, pomoc\u00ed kter\u00e9ho se \u010ce\u0161i mohou l\u00e9pe zajistit na st\u00e1\u0159\u00ed. Oproti tradi\u010dn\u00edm penzijn\u00edm pl\u00e1n\u016fm nab\u00edz\u00ed DIP pru\u017en\u011bj\u0161\u00ed mo\u017enosti investov\u00e1n\u00ed s\u00a0potenci\u00e1ln\u011b vy\u0161\u0161\u00edm zhodnocen\u00edm.<\/p>\n
Kde si jde DIP z\u0159\u00eddit? Ve st\u00e1tem regulovan\u00fdch instituc\u00edch: banka, spo\u0159iteln\u00ed a\u00a0\u00fav\u011brn\u00ed dru\u017estvo, obchodn\u00edk s\u00a0cenn\u00fdmi pap\u00edry (regulovan\u00fd), investi\u010dn\u00ed spole\u010dnost, samospr\u00e1vn\u00fd investi\u010dn\u00ed fond, zahrani\u010dn\u00ed poskytovatel s\u00a0opr\u00e1vn\u011bn\u00edm poskytovat slu\u017eby v\u00a0\u010cesku.<\/p>\n
Do \u010deho jde investovat: Do st\u00e1tem regulovan\u00fdch produkt\u016f: bankovn\u00ed vklady; akcie obchodovan\u00e9 na regulovan\u00e9m trhu; dluhopisy, jejich\u017e emitentem je \u010dlensk\u00fd st\u00e1t EU, zahrani\u010dn\u00ed banka nebo centr\u00e1ln\u00ed banka takov\u00e9ho st\u00e1tu; kryt\u00e9 dluhopisy (hypote\u010dn\u00ed z\u00e1stavn\u00ed listy), pod\u00edlov\u00e9 fondy a\u00a0burzovn\u011b obchodovan\u00e9 fondy (ETF); zaji\u0161\u0165ovac\u00ed deriv\u00e1ty, kter\u00e9 nejsou investi\u010dn\u00edm cenn\u00fdm pap\u00edrem a\u00a0kter\u00e9 jsou sjedn\u00e1ny v\u00fdhradn\u011b za \u00fa\u010delem zaji\u0161t\u011bn\u00ed majetku v\u00a0r\u00e1mci DIP, je-li hodnotou, ke kter\u00e9 se vztahuje hodnota tohoto n\u00e1stroje, \u00farokov\u00e1 m\u00edra, m\u011bnov\u00fd kurz nebo m\u011bna.<\/p>\n
Do \u010deho nejde investovat: Do v\u011bt\u0161iny firemn\u00edch dluhopis\u016f, kter\u00e9 nejsou obchodov\u00e1ny na regulovan\u00e9m trhu; do rizikov\u00fdch instrument\u016f, jako jsou nap\u0159\u00edklad p\u00e1kov\u00e9 investi\u010dn\u00ed cenn\u00e9 pap\u00edry.<\/p>\n
Jak funguje da\u0148ov\u00e9 zv\u00fdhodn\u011bn\u00ed? Od z\u00e1kladu dan\u011b si jde ode\u010d\u00edst celkovou ro\u010dn\u00ed sumu v\u0161ech vklad\u016f do DIP portfolia a\u017e do v\u00fd\u0161e 48\u00a0tis\u00edc\u00a0korun ro\u010dn\u011b za p\u0159edpokladu, \u017ee pro da\u0148ov\u00fd odpo\u010det ji\u017e investor nevyu\u017eije jin\u00e9 st\u00e1tem podporovan\u00e9 produkty\u00a0\u2013 zn\u00e1m\u00e9 penzijn\u00ed p\u0159ipoji\u0161t\u011bn\u00ed, dopl\u0148kov\u00e9 penzijn\u00ed spo\u0159en\u00ed, \u017eivotn\u00ed poji\u0161t\u011bn\u00ed a\u00a0nov\u011b tak\u00e9 poji\u0161t\u011bn\u00ed dlouhodob\u00e9 p\u00e9\u010de. Investice do v\u0161ech produkt\u016f v\u0161ak jde libovoln\u011b kombinovat a\u017e do maxim\u00e1ln\u00ed \u010d\u00e1stky na odpo\u010det. Da\u0148ov\u00e9 zv\u00fdhodn\u011bn\u00ed m\u016f\u017ee vyu\u017e\u00edt p\u0159i p\u0159isp\u00edv\u00e1n\u00ed zam\u011bstnanci i\u00a0zam\u011bstnavatel\u00a0\u2013 a\u00a0to do v\u00fd\u0161e a\u017e 50\u00a0tis\u00edc\u00a0korun ro\u010dn\u011b.<\/p>\n
Kdy p\u016fjde pen\u00edze vybrat? Po 120\u00a0m\u011bs\u00edc\u00edch spo\u0159en\u00ed a\u00a0dosa\u017een\u00ed v\u011bku minim\u00e1ln\u011b 60\u00a0let. Existuj\u00ed v\u00fdjimky na p\u0159ed\u010dasn\u00fd v\u00fdb\u011br\u00a0\u2013 invalidita t\u0159et\u00edho stupn\u011b a\u00a0dal\u0161\u00ed, p\u0159eveden\u00ed prost\u0159edk\u016f k\u00a0nov\u00e9mu poskytovateli DIP.<\/p>\n
Co zaplat\u00edm za p\u0159ed\u010dasn\u00fd v\u00fdb\u011br? P\u0159i nespln\u011bn\u00ed podm\u00ednek bude t\u0159eba dodanit do t\u00e9 doby uplatn\u011bn\u00e9 da\u0148ov\u00e9 zv\u00fdhodn\u011bn\u00ed spole\u010dn\u011b s\u00a0p\u0159\u00edsp\u011bvky zam\u011bstnavatele a\u017e 10\u00a0let zp\u011btn\u011b.<\/p>\n
Vedle toho rozv\u00edj\u00ed investi\u010dn\u00ed pl\u00e1ny pro pasivn\u00ed investory a\u00a0zva\u017euje i\u00a0dal\u0161\u00ed slu\u017eby. Prvn\u00ed krok u\u017e ud\u011blala prost\u0159ednictv\u00edm platebn\u00ed karty XTB, kterou podle Holovky vyu\u017e\u00edv\u00e1 p\u0159ibli\u017en\u011b deset procent klient\u016f. Ambice firmy jsou v\u0161ak \u0161ir\u0161\u00ed. \u201eNa\u0161\u00ed dlouhodobou ambic\u00ed je neb\u00fdt jen investi\u010dn\u00ed aplikace, ale trochu se rozkro\u010dit i\u00a0do t\u011bch ostatn\u00edch finan\u010dn\u00edch slu\u017eeb, nap\u0159\u00edklad do spo\u0159en\u00ed,\u201c \u0159\u00edk\u00e1.<\/p>\n
Na ot\u00e1zku, zda by se XTB jednou mohlo st\u00e1t bankou, odpov\u00edd\u00e1 opatrn\u011b. \u201eTuto variantu asi nelze \u00fapln\u011b hodit do ko\u0161e.\u201c Zat\u00edm ale podle n\u011bj nen\u00ed na po\u0159adu dne.<\/p>\n
N\u011bco rizikov\u011bj\u0161\u00edho? <\/p>\n
XTB tak\u00e9 nov\u011b roz\u0161\u00ed\u0159ila nab\u00eddku o\u00a0rizikov\u011bj\u0161\u00ed produkt – opce na 110\u00a0americk\u00fdch akci\u00ed a\u00a0ETF. Podle Vladim\u00edra Holovky ale opravdu nen\u00ed vhodn\u00fd pro ka\u017ed\u00e9ho investora. \u201eOpce je bezpochyby slo\u017eit\u011bj\u0161\u00ed instrument. Nen\u00ed ur\u010dit\u011b ur\u010den pro \u00fapln\u011b ka\u017ed\u00e9ho investora. Chce to n\u011bjakou zku\u0161enost a\u00a0nastudovat si parametry,\u201c \u0159\u00edk\u00e1. <\/p>\n
V\u00fdhodou opc\u00ed je mo\u017enost vyu\u017e\u00edt p\u00e1kov\u00fd efekt a\u00a0n\u00e1sobit potenci\u00e1ln\u00ed v\u00fdnos, z\u00e1rove\u0148 ale i\u00a0riziko. XTB proto nab\u00edz\u00ed pouze takzvan\u00e9 n\u00e1kupn\u00ed opce, u\u00a0nich\u017e investor p\u0159edem v\u00ed, kolik m\u016f\u017ee maxim\u00e1ln\u011b ztratit. <\/p>\n
\u201eKdy\u017e mi ten obchod nevyjde podle o\u010dek\u00e1v\u00e1n\u00ed, tak to je to maximum, co mohu ztratit. Ale pokud p\u016fjde podle m\u00e9ho sc\u00e9n\u00e1\u0159e, m\u016f\u017eu svoji po\u010d\u00e1te\u010dn\u00ed investici n\u00e1sobit,\u201c vysv\u011btluje Holovka. Firma z\u00e1rove\u0148 retailov\u00fdm klient\u016fm neumo\u017e\u0148uje vypisov\u00e1n\u00ed opc\u00ed, kter\u00e9 m\u016f\u017ee v\u00e9st k\u00a0teoreticky neomezen\u00fdm ztr\u00e1t\u00e1m a\u00a0je ur\u010deno sp\u00ed\u0161e profesion\u00e1ln\u00edm obchodn\u00edk\u016fm.<\/p>\n
Na cel\u00fd rozhovor se m\u016f\u017eete pod\u00edvat v\u00a0\u00favodn\u00edm videu.<\/p>\n
Agenda<\/p>\n
\u010ctvrthodinka o\u00a0byznysu z\u00a0prvn\u00ed ruky. Rozhovory s\u00a0top l\u00eddry \u010desk\u00e9ho byznysu, zakladateli firem, odborn\u00edky.<\/p>\n
Od pond\u011bl\u00ed do \u010dtvrtka na SZ Byznys a\u00a0ve v\u0161ech podcastov\u00fdch aplikac\u00edch.<\/p>\n","protected":false},"excerpt":{"rendered":"Rozhovor si tak\u00e9 m\u016f\u017eete poslechnout v\u00a0audioverzi nebo st\u00e1hnout do podcastov\u00e9 aplikace. Po\u010det investor\u016f roste, brokersk\u00e9 firmy hl\u00e1s\u00ed rekordn\u00ed…\n","protected":false},"author":2,"featured_media":128984,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[412,67,68,69,35284,470,8281,11779],"class_list":["post-128983","post","type-post","status-publish","format-standard","has-post-thumbnail","category-byznys","tag-akcie","tag-business","tag-byznys","tag-investice","tag-opce","tag-penzijni-sporeni","tag-porad-agenda","tag-xtb"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116809539524652792","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/128983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=128983"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/128983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/128984"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=128983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=128983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=128983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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<\/a><\/p>\n