Page 18 - IDEA Study 3 2015 Duchodova studie

(30%). Note that very few men and even fewer women retired later than the statutory retirement age (see also Kalwij, 2010). GRAPH 1.5 Real Age of Retirement - Men 40% 40% 35% 35% 30% 30% 25% 25% 20% 20% 15% 15% 10% 10% 5% 5% 0% 0% 50-51 52-53 54-55 56-57 58-59 60-61 62-63 64-65 Source: Data SHARE Retirement age (years)  CZ 4W11 Real Age of Retirement - Women 50-51 52-53 54-55 56-57 58-59 60-61 62-63 64-65 Source: Data SHARE Retirement age (years)  CZ 4W11 Graph 1.6 describes reasons for retirement, expressed as fractions of all respondents who retired at a given age. In the data, we identify the four most prevalent reasons given: claim (the individual became entitled to an old-age pension, i.e. reached the statutory retirement age), job loss (the individual lost a job and chose to enter retirement rather than be unemployed), health reasons, and positive (the individual wanted to retire together with a spouse or a partner, wanted to spend more time with their family, etc.). It is apparent that the prevailing reason for early retirement is health, especially among men (more than two-thirds of those who retired below age 54 cited this reason). Job loss seems to be correlated with retirement just before the statutory retirement age for both men and women. However, the main reason for retirement for both genders comes from reaching the statutory retirement age (see also van Erp, 2014). In other words, around 80-85% of all older people retire primarily because they have become entitled to an old-age pension. This finding is not specific to the Czech Republic: it is also observed in other countries with clearly determined statutory retirement ages. GRAPH 1.6 16