{"id":56812,"date":"2026-04-16T14:35:10","date_gmt":"2026-04-16T14:35:10","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/56812\/"},"modified":"2026-04-16T14:35:10","modified_gmt":"2026-04-16T14:35:10","slug":"komentar-schillerova-snad-brzy-prekvapi-a-vytahne-hit-pro-mlade","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/56812\/","title":{"rendered":"Koment\u00e1\u0159: Schillerov\u00e1 snad brzy p\u0159ekvap\u00ed a\u00a0vyt\u00e1hne hit pro mlad\u00e9"},"content":{"rendered":"

Nadchnout mlad\u00e9 lidi \u0159e\u010dmi o\u00a0jejich st\u00e1\u0159\u00ed nen\u00ed nic pro politick\u00e9 za\u010d\u00e1te\u010dn\u00edky. Tak\u017ee dr\u017eme Alen\u011b Schillerov\u00e9 palce, proto\u017ee tentokr\u00e1t jde o\u00a0hodn\u011b.<\/p>\n

Do m\u011bs\u00edce slibuje p\u0159edstavit novelu paragraf\u016f o\u00a0penzijn\u00edm p\u0159ipoji\u0161t\u011bn\u00ed. Potenci\u00e1ln\u011b pr\u016flomovou v\u011bc s\u00a0nejv\u011bt\u0161\u00edm prosp\u011bchem pr\u00e1v\u011b pro ty, kte\u0159\u00ed maj\u00ed na spo\u0159en\u00ed nejv\u00edc \u010dasu. <\/p>\n

Fondy by jim m\u011bly d\u00e1t ni\u017e\u0161\u00ed poplatky a\u00a0nab\u00eddnout nekomplikovan\u00e9ho autopilota celo\u017eivotn\u00edho investov\u00e1n\u00ed, kter\u00e9ho p\u016fjde br\u00e1t jako prov\u011b\u0159en\u00fd standard a\u00a0kompromis mezi regulac\u00ed a\u00a0v\u00fdnosem. Aby mlad\u00ed nem\u00edjeli penzijn\u00ed fondy jako produkt z\u00a0minul\u00e9ho stolet\u00ed. <\/p>\n

Ve h\u0159e je i\u00a0n\u011bjak\u00e1 forma vstupn\u00ed motivace. Se\u010dteno a\u00a0podtr\u017eeno\u00a0\u2013\u00a0vedle dluh\u016f, kter\u00e9 na mileni\u00e1ly spadnou (i kv\u016fli avizovan\u00e9mu ru\u0161en\u00ed ned\u00e1vno schv\u00e1len\u00e9 penzijn\u00ed reformy), by mohli zd\u011bdit po t\u00e9to vl\u00e1d\u011b i\u00a0n\u011bco pozitivn\u00edho.<\/p>\n

Penzijn\u00ed p\u0159ipoji\u0161t\u011bn\u00ed funguje u\u017e t\u0159i dek\u00e1dy a\u00a0posledn\u00ed velkou reformou pro\u0161lo p\u0159ed t\u0159in\u00e1cti\u00a0lety. Pot\u0159ebuje dal\u0161\u00ed. Fondy sice maj\u00ed skoro \u010dty\u0159i miliony klient\u016f, ale sp\u00ed\u0161 t\u011bch star\u0161\u00edch. V\u00fdnosy jsou slab\u00e9 a\u00a0n\u011bkdej\u0161\u00ed hlavn\u00ed l\u00e1kadlo\u00a0\u2013\u00a0st\u00e1tn\u00ed p\u0159\u00edsp\u011bvek\u00a0340\u00a0korun m\u011bs\u00ed\u010dn\u011b\u00a0\u2013 u\u017e v\u00a0dne\u0161n\u00ed zrychlen\u00e9 dob\u011b pln\u00e9 jin\u00fdch investi\u010dn\u00edch l\u00e1kadel nezab\u00edr\u00e1. <\/p>\n

Probl\u00e9m je troj\u00ed a\u00a0jednotliv\u00e9 slabiny se navz\u00e1jem zesiluj\u00ed. 1) Lid\u00e9 vstupuj\u00ed do syst\u00e9mu p\u0159\u00edli\u0161 pozd\u011b. 2) Povinn\u00e9 investi\u010dn\u00ed dotazn\u00edky je nav\u00e1d\u011bj\u00ed do zbyte\u010dn\u011b opatrn\u00fdch a\u00a0m\u00e1lo v\u00fdnosn\u00fdch strategi\u00ed. 3) P\u0159ekvapiv\u011b velkou \u010d\u00e1st v\u00fdnos\u016f sma\u017eou vysok\u00e9 poplatky. <\/p>\n

V\u00fdsledek je tristn\u00ed: b\u011b\u017en\u00fd st\u0159adatel se po celo\u017eivotn\u00edm spo\u0159en\u00ed do\u010dk\u00e1 drobn\u00e9ho p\u0159ilep\u0161en\u00ed, ale ne pen\u011bz, s\u00a0kter\u00fdmi by \u0161lo po\u010d\u00edtat jako s\u00a0relevantn\u00edm dopl\u0148kem st\u00e1tn\u00edho d\u016fchodu. A\u00a0proto\u017ee to lid\u00e9 tu\u0161\u00ed, nemaj\u00ed motivaci spo\u0159it v\u00edc ani d\u0159\u00edv. Syst\u00e9m je v\u00a0pasti. <\/p>\n

Co je t\u0159eba opravit? <\/p>\n

Legislativn\u00ed n\u00e1vrh u\u017e se dod\u011bl\u00e1v\u00e1, ale zat\u00edm je tajn\u00fd. Podle mluv\u010d\u00edho Ministerstva financ\u00ed Filipa B\u011bhala lze zat\u00edm \u0159\u00edct jen to, \u017ee novela sleduje t\u0159i priority\u00a0\u2013 sn\u00ed\u017een\u00ed poplatk\u016f, podporu odv\u00e1\u017en\u011bj\u0161\u00edch investi\u010dn\u00edch strategi\u00ed a\u00a0v\u011bt\u0161\u00ed motivaci ke vstupu \u201ep\u0159edev\u0161\u00edm u\u00a0mlad\u00fdch klient\u016f\u201c.<\/p>\n

Co\u017e zn\u00ed obecn\u011b, ale v\u016fbec ne \u0161patn\u011b. V\u0161e zapad\u00e1 do n\u00e1vrh\u016f expert\u016f, kte\u0159\u00ed se t\u00e9matu v\u011bnuj\u00ed.<\/p>\n

T\u00e9ma v\u00a0lednu hodn\u011b rozh\u00fdbaly v\u00fdpo\u010dty ekonom\u016f Luk\u00e1\u0161e N\u00e1dvorn\u00edka a\u00a0Filipa Pertolda z\u00a0institutu IDEA. Upozornili pr\u00e1v\u011b na vysok\u00e9 poplatky<\/a> a\u00a0na potenci\u00e1l srazit je a\u017e o\u00a0polovinu.<\/p>\n

To se politik\u016fm logicky l\u00edb\u00ed a\u00a0fond\u016fm ne. I\u00a0proto je \u0159e\u010d o\u00a0tom, \u017ee by se zlevn\u011bn\u00ed spojilo s\u00a0n\u011bjakou formou pob\u00eddek, aby si mlad\u0161\u00ed lid\u00e9 slev v\u0161imli a\u00a0v\u00edc se hl\u00e1sili. Co\u017e by pro fondy znamenalo n\u011bco za n\u011bco (za \u00fabytek poplatk\u016f v\u00edc klient\u016f) a\u00a0v\u0161ichni by mohli b\u00fdt spokojeni.<\/p>\n

<\/a><\/p>\n

Slibovan\u00e9 pos\u00edlen\u00ed motivace, pokud by \u0161lo o\u00a0v\u011bt\u0161\u00ed p\u0159\u00edsp\u011bvky nebo da\u0148ov\u00e9 \u00falevy, bude pro st\u00e1t znamenat n\u00e1klady. Jde tedy o\u00a0o\u0161emetnou v\u011bc, kter\u00e1 zat\u00edm z\u016fst\u00e1v\u00e1 nedo\u0159e\u0161en\u00fdm hork\u00fdm bramborem. <\/p>\n

Nic naopak nestoj\u00ed modernizace dotazn\u00edk\u016f. Nebo\u00a0jejich odstran\u011bn\u00ed a\u00a0nab\u00eddka jednoho univerz\u00e1ln\u00edho \u0159e\u0161en\u00ed, posv\u011bcen\u00e9ho st\u00e1tem jako rozumn\u00e1 z\u00e1kladn\u00ed volba pro ty, kdo se spo\u0159en\u00edm v\u00a0ml\u00e1d\u00ed za\u010d\u00ednaj\u00ed a\u00a0nemaj\u00ed chu\u0165 n\u011bco speci\u00e1ln\u00edho vym\u00fd\u0161let.<\/p>\n

Takov\u00fd zlep\u0161ov\u00e1k fondy podporuj\u00ed a\u00a0m\u00e1 u\u017e i\u00a0jm\u00e9no\u00a0\u2013\u00a0strategie \u017eivotn\u00edho cyklu. Fondy by nov\u011b p\u0159\u00edchoz\u00edm nam\u00edchaly v\u00a0ml\u00e1d\u00ed dynamick\u00e9 odv\u00e1\u017en\u00e9 portfolio pln\u00e9 akci\u00ed a\u00a0postupn\u011b s\u00a0v\u011bkem by ho \u201ezklid\u0148ovaly\u201c p\u0159esunem pen\u011bz do jist\u011bj\u0161\u00edch instrument\u016f, jako jsou st\u00e1tn\u00ed dluhopisy nebo bankovn\u00ed vklady.<\/p>\n

Nejedn\u00e1 se o\u00a0\u017e\u00e1dnou novinku, s\u00a0t\u00edmto konceptem fondy pracuj\u00ed v\u0161ude po sv\u011bt\u011b. C\u00edlem nen\u00ed objevit Ameriku, ale sp\u00ed\u0161 celo\u017eivotn\u00ed automat prodat jako n\u011bco, co d\u00e1v\u00e1 smysl a\u00a0na co se d\u00e1 spolehnout. <\/p>\n

I\u00a0\u010desk\u00e9 fondy u\u017e ho maj\u00ed v\u00a0nab\u00eddce, ale jen jako jednu z\u00a0mo\u017enost\u00ed, nikoli jako v\u00fdchoz\u00ed nastaven\u00ed. A\u00a0to je p\u0159esn\u011b ten probl\u00e9m: lid\u00e9 si ji vol\u00ed z\u0159\u00eddka, proto\u017ee v\u00fdb\u011br investi\u010dn\u00ed strategie vy\u017eaduje orientaci, z\u00e1jem a\u00a0\u010das, co\u017e mnoh\u00e9 odrad\u00ed; anebo to stoj\u00ed pen\u00edze za provize poradc\u016f, aby st\u0159adatele p\u0159esv\u011bd\u010dili, co\u017e syst\u00e9m prodra\u017euje na ji\u017e zm\u00edn\u011bn\u00fdch poplatc\u00edch.<\/p>\n

Jak to cel\u00e9 dopadne?<\/p>\n

C\u00edl je tedy jasn\u00fd a\u00a0d\u00e1v\u00e1 smysl. Ka\u017ed\u00fd v\u00ed, \u017ee \u010das (v kombinaci s\u00a0rozumnou volbou aktiv a\u00a0rizika) d\u011bl\u00e1 p\u0159i investov\u00e1n\u00ed divy. Kdo \u010das m\u00e1, m\u011bl by se zapojit co nejd\u0159\u00edv. St\u00e1t za\u0159\u00edd\u00ed, \u017ee to bude levn\u011bj\u0161\u00ed, fondy nab\u00eddnou na podnose p\u0159edvolenou z\u00e1kladn\u00ed strategii. <\/p>\n

Zb\u00fdv\u00e1 jen do\u0159e\u0161it, jak se tento z\u00e1m\u011br p\u0159evede do praxe. A\u00a0to m\u016f\u017ee dopadnout r\u016fzn\u011b. <\/p>\n

Je skoro jist\u00e9, \u017ee leitmotivem novely se stanou v\u00a0prvn\u00ed \u0159ad\u011b poplatky. Jde o\u00a0vd\u011b\u010dn\u00e9 a\u00a0srozumiteln\u00e9 t\u00e9ma, s\u00a0konkr\u00e9tn\u00edmi \u010d\u00edsly v\u00a0paragrafech. Ka\u017ed\u00fd se na poplatky bude politik\u016f pt\u00e1t a\u00a0oni budou r\u00e1di odpov\u00eddat. Proto\u017ee co zn\u00ed l\u00e9pe ne\u017e z\u00e1tah proti nena\u017eranosti finan\u010dn\u00edch dom\u016f.<\/p>\n

Budi\u017e\u00a0\u2013\u00a0levn\u011bj\u0161\u00ed spr\u00e1va je nutnou podm\u00ednkou \u00fasp\u011bchu, ale je t\u0159eba j\u00edt d\u00e1l. Spo\u0159ic\u00ed noha je celospole\u010denskou nutnost\u00ed, kter\u00e1 vych\u00e1z\u00ed z\u00a0matematiky demografick\u00e9 \u010dasovan\u00e9 bomby. M\u00e1-li cel\u00fd zdej\u0161\u00ed d\u016fchodov\u00fd syst\u00e9m b\u011b\u017eet d\u00e1l bez dal\u0161\u00edho zda\u0148ov\u00e1n\u00ed pr\u00e1ce nebo se\u0161krt\u00e1n\u00ed d\u016fchod\u016f, pot\u0159ebuje p\u0159\u00eddavn\u00fd motor.<\/p>\n

Ekonom Miroslav Z\u00e1me\u010dn\u00edk\u00a0\u2013\u00a0jeden z\u00a0t\u011bch, kte\u0159\u00ed o\u00a0p\u0159\u00ednosech nosn\u00e9ho fondov\u00e9ho pil\u00ed\u0159e mluv\u00ed u\u017e od 90.\u00a0let\u00a0\u2013\u00a0rad\u00ed neb\u00fdt p\u0159i zdi a\u00a0zkusit iniciovat masovou vlnu nap\u0159\u00ed\u010d generac\u00ed. Tedy nez\u016fstat jen u\u00a0st\u00e1vaj\u00edc\u00ed formy m\u011bs\u00ed\u010dn\u00edch st\u00e1tn\u00edch p\u0159\u00edsp\u011bvk\u016f a\u00a0da\u0148ov\u00fdch \u00falev, ale zav\u00e9st t\u0159eba vstupn\u00ed n\u00e1borov\u00fd p\u0159\u00edsp\u011bvek, a\u00a0to v\u00a0dostate\u010dn\u00e9 v\u00fd\u0161i, aby se o\u00a0n\u011bm mluvilo. Nebo rovnou automatick\u00fd z\u00e1pis v\u0161ech p\u0159i prvn\u00edm n\u00e1stupu do pr\u00e1ce\u00a0\u2013 s\u00a0mo\u017enost\u00ed odhl\u00e1sit se, co\u017e nakonec podle zku\u0161enost\u00ed behavior\u00e1ln\u00edch ekonom\u016f ud\u011bl\u00e1 jen men\u0161ina. <\/p>\n

N\u00e1borov\u00e9 p\u0159\u00edsp\u011bvky by znamenaly jednor\u00e1zov\u00fd n\u00e1klad a\u00a0nejsp\u00ed\u0161 na n\u011b nedojde. Ale spole\u010dnost mlad\u00fdm jistou velkorysost dlu\u017e\u00ed, vzhledem k\u00a0tomu, jak\u00e9 z\u00e1vazky se na ni ze v\u0161ech stran hrnou. Beznad\u011bj, \u017ee d\u016fchodov\u00fd syst\u00e9m na mlad\u0161\u00ed ro\u010dn\u00edky nemysl\u00ed a\u00a0nic v\u00a0n\u011bm nezbude, se bez pen\u011bz t\u011b\u017eko odbour\u00e1.<\/p>\n

S fantazi\u00ed jde podle Z\u00e1me\u010dn\u00edka pracovat je\u0161t\u011b d\u00e1l a\u00a0do diskuse vt\u00e1hnout krom\u011b st\u00e1\u0159\u00ed i\u00a0n\u011bco, co mlad\u00e9 opravdu p\u00e1l\u00ed. T\u0159eba umo\u017enit propojen\u00ed penzijn\u00edch \u00falo\u017eek s\u00a0hypot\u00e9kami, tak aby nast\u0159\u00e1dan\u00e9 pen\u00edze mohly fungovat pro banku jako forma z\u00e1ruky, a\u00a0t\u00edm se p\u0159\u00edstup k\u00a0\u00fav\u011bru zjednodu\u0161il. Nebo \u010d\u00e1st pen\u011bz ve fondech zhodnocovat t\u00edm, \u017ee si je p\u016fj\u010d\u00ed st\u00e1t na projekty, jako jsou d\u00e1lnice, za kter\u00e9 by jinde stejn\u011b platil vysok\u00fd \u00farok. <\/p>\n

Po v\u0161ech str\u00e1nk\u00e1ch je zjevn\u00e9, \u017ee vl\u00e1da m\u00e1 \u0161anci ud\u011blat pro mlad\u0161\u00ed ro\u010dn\u00edky velkolepou v\u011bc. Anebo tuto p\u0159\u00edle\u017eitost m\u016f\u017ee velkolep\u011b zahodit, kdy\u017e novelu zabal\u00ed \u00fazce jen jako tlumi\u010d poplatk\u016f. <\/p>\n

Uvid\u00edme brzy\u00a0\u2013 podle mluv\u010d\u00edho B\u011bhala m\u00e1 b\u00fdt text ofici\u00e1ln\u011b p\u0159edlo\u017een do p\u0159ipom\u00ednkov\u00e9ho \u0159\u00edzen\u00ed \u201ena p\u0159elomu dubna a\u00a0kv\u011btna\u201c. V\u00a0\u010dervnu ho m\u00e1 projednat vl\u00e1da, aby mohl od ledna platit.<\/p>\n","protected":false},"excerpt":{"rendered":"Nadchnout mlad\u00e9 lidi \u0159e\u010dmi o\u00a0jejich st\u00e1\u0159\u00ed nen\u00ed nic pro politick\u00e9 za\u010d\u00e1te\u010dn\u00edky. Tak\u017ee dr\u017eme Alen\u011b Schillerov\u00e9 palce, proto\u017ee tentokr\u00e1t…\n","protected":false},"author":2,"featured_media":56813,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[297,43,42,41,40,471,5835,470,3737,562],"class_list":{"0":"post-56812","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cesko","8":"tag-alena-schillerova","9":"tag-ceska-republika","10":"tag-cesko","11":"tag-czech-republic","12":"tag-czechia","13":"tag-penzijni-fondy","14":"tag-penzijni-pripojisteni","15":"tag-penzijni-sporeni","16":"tag-statni-dluh","17":"tag-vlada-andreje-babise"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116414888373085758","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/56812","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=56812"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/56812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/56813"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=56812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=56812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=56812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}