Page 20 - IDEA Study 3 2015 Duchodova studie

It is important to recall that the year 2011 saw parametric changes in the pension system (known as the small pension reform), which temporally affected the influx of early retirees. The prospect of parametric changes being introduced motivated a notable number of individuals to opt for early retirement during 2011. This explains the temporary increase in the registry figures for 2011. The retirement rate, both regular and early, naturally declined in the following years 2012-2014, but the proportion of early retirement remains at about one third. This unique and temporary event in 2011 also affects the SHARE statistics presented in most of our other graphs. In principle, it contributes to a somewhat higher proportion of retired and non-working individuals at ages close to the statutory retirement age. Given the nature of the SHARE data, we cannot separate this one-off phenomenon from the age profiles. 18