In the Czech Republic, there are no special pension funds or special retirement insurance schemes for artists. The conditions of state pension are, therefore, the same for artists as for any other citizens of the Czech Republic. If an artist pursues gainful activities during his/her career (either as an employee or as a self-employed person or in combination of both), he/she has to pay contributions to the basic state pension scheme on a mandatory and pay-as-you-earn basis. This constitutes “the first pillar” of the state pension scheme, under which the entitlement to state-paid old-age pensions arises upon the attainment of the retirement age and the fulfilment of other conditions. Unfortunately, the old-age pension paid by the state is considerably low in the Czech Republic (not only in comparison with other EU countries), and its purchasing power is expected to weaken even more in the future.
This is why the system of voluntary “supplementary pension savings” (formerly called supplementary state pension) was introduced, allowing anyone to deposit any part of his/her income regularly to a special account at a pension company (“the third pillar” of the pension system). These deposits made by citizens are supplemented by state contributions, proportionate to the amount of individual deposits, as well as by certain, though relatively low interest. Artists, of course, can use this opportunity, as well.
Unfortunately, there are no special arrangements in the Czech Republic for, e.g. former professional dancers and dance group members as regards financial support of their livelihood after they end their active professional career. It is, therefore, up to each dancer to choose how to save up money regularly and where to deposit his/her incomes during his/her career (using traditional or common financial tools designated for ordinary citizens of the Czech Republic) so that he/she is secured financially after ending his/her professional career.