Page 25 - Book of Abstracts 2021

Study 5 2020 Retirement in the Czech Republic: the role ODCHODY DO DŮCHODU V ČESKU: of expectations and health status in international comparison September 2020 ROLE OČEKÁVÁNÍ A ZDRAVOTNÍHO STAVU V MEZINÁRODNÍM SROVNÁNÍ IDEA 2020 Study 5 / 2020 Retirement in the Czech Republic: the role of expectations and health status in international comparison SEPTEMBER 2020 FILIP PERTOLD, MIROSLAVA FEDERIČOVÁ2 Summary The Czech population is ageing, which will have long-term impacts on the economy and society. One of the principal problems is the risk of a future decline of the overall workforce. On the basis of the SHARE data we show, among other things, that most older workers retire as soon as they are eligible for an old age pension, whether that is early retirement or standard retirement age. Only a very small percentage of workers take their retirement later than at the moment of pension eligibility. At the ages of between 50 and 61 years, almost half of all working men and a quarter of all working women in the Czech Republic declare that they are very likely to work after their 63rd birthday. These values are very similar to equivalent values in Germany, but lower than those in Scandinavia. In the Czech Republic we observe that a high proportion of people who do not work beyond their 63rd birthdays despite having previously expected to do so. Only about a third of those who declare a high expectation of working at this age actually go on. This disinclination to work despite previously having expected to do so seems to be unique in Europe. Germany and Scandinavia both report that around 75 percent of working people who expect to work beyond 63 years of age do indeed go on to do so. 2 This study represents the authors own view and not the official position of the Czech Academy of Sciences' Economics Institute nor the Charles University Centre for Economic Research and Graduate Education (CERGE). The authors are grateful to Daniel Münich for his valuable comments and advice. The study was produced with support from the Czech Academy of Sciences as part of its SAV21 Strategy programme and Krása pomoci Foundation. 3 BACK TO CONTENTS 23