Page 16 - IDEA Study 3 2015 Duchodova studie

populations, and some for example suffer from worse health conditions or have lower productivity skills in the labour market, then a policy of increasing the statutory retirement age might result in welfare losses (although many people provide care for family members). On the other hand, as Angelini et al. (2009) and Borsch-Supan et al. (2009) show, if individuals are similar across different countries, then early retirement in some countries represents an economic inefficiency in terms of unused labour capacity, and represents a burden for the sustainability of the pension system. Effective Retirement by Age Cohorts Graph 1.3 (below) shows the proportion of retired individuals as a percentage of the total population in each respective age group. The Czech data illustrate the changes in the statutory retirement age between 2007 and 2013 (the shift from the grey to the blue and red lines). Most of the changes in effective retirement age during these six years occurred at early retirement ages of women before the age of 60: the extremely steep downward slope with respect to the retirement age between age 57 and 58 became more gradual. While the male retirement pattern has been stable and very close to patterns observed in Western European countries, the effective retirement ages are still far below those seen in the Nordic countries. In Southern Europe, the low percentage of retired women reflects their low participation in the labour market and subsequent ineligibility for retirement pensions (they are only eligible for a survivor’s pension). Overall, the changes observed in the Czech Republic during the last six years provide convincing evidence that the postponement of the statutory retirement age for women has translated into effective retirement age shifts, though this has not been the case where men are concerned. GRAPH 1.3 100% 80% 60% 40% 20% 0% WS NS N Source: Data SHARE Percentage of Retired Men 100% 80% 60% 40% 20% 0% Percentage of Retired Women W WS N W W WN SN S N Age group - men (years) R age, gender _____________________________ P age, gender Source: Data SHARE Age group - women (years) R age, gender ______________________________ P age, gender N W S W N W N W N S WN S W S N S S 14