Hranice důchodového věku zajišt'ující průměrnou dobu pobírání důchodu po dobu čtvrtiny života a modelové výpočty jeho hodnot
A retirement age which ensures an average pension claim period of a quarter of a lifetime and model calculations of its value

Summary/Abstract: One of the most frequently discussed implications of population ageing consists of the issue of the financial sustainability of the pension system. In the majority of European countries the main consequence of population ageing consists of an increase in the proportion of senior citizens in the general population accompanied by the prolongation of the time period over which pensions are claimed. One possible response consists of increasing the retirement age significantly beyond the usual limit of 65 years. The issue of pension reform has been under discussion in the Czech Republic for many years and one of the reforms already introduced, i.e. the gradual implementation of a permanent increase in the retirement age with no upper limit, is unique in the European context. This measure has, however, often been criticised by representatives of several political parties as well as pension experts. One of the key tasks of the Expert Commission for Pension Reform, which was established in 2014, was therefore to come up with a mechanism for the evaluation of the current settings of the pension age and its potential correction in the future. Consequently, in this paper the authors address a proposal put forward by the Commission which is based on the idea of choosing such a retirement age so that the average time period of drawing a pension amounts to a quarter of a lifetime. The aim of this contribution is not so much to provide a detailed description of the mechanism used for calculating model values for such a defined retirement age, but rather to show how such a condition, according to current forecasts of future mortality rates, might influence the retirement age in the Czech Republic in the future.

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