Prague Economic Papers 2021, 30(5):575-595 | DOI: 10.18267/j.pep.785

Distribution of Expected Time of Old-Age Pension Receipt in Czechia

Tomáš Fiala ORCID...a, Jitka Langhamrová ORCID...a
a Prague University of Economics and Business, Faculty of Informatics and Statistics, Department of Demography, Prague, Czech Republic

This paper presents a calculation of the estimated value of the time of old age pension receipt for individual birth cohorts of Czech males and females born in the period 1900-2020. It is assumed that people start to receive the pension at the moment of reaching retirement age and receive it until death. Starting with the birth cohort of 1966, two variants of retirement age determination are assumed: (a) a fixed retirement age threshold equal to 65 years for both males and females; and (b) a flexible retirement age (equal for males and females) defined in such a way that the average time of pension receipt would be equal to one quarter of the total expected total life span of people reaching senior age. The average lengths of pension receipt as well as the structure of adult persons from each birth cohort according to five-year time intervals of pension receipt (including the proportion of adult persons not surviving until retirement age) in the future are presented. Cohort life tables were used for calculations.

Keywords: Retirement age, cohort life tables, birth cohorts, lengths of pension receipt, Czechia
JEL classification: J11, J14, J26

Received: September 28, 2020; Revised: May 24, 2021; Accepted: July 1, 2021; Prepublished online: August 11, 2021; Published: October 22, 2021  Show citation

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Fiala, T., & Langhamrová, J. (2021). Distribution of Expected Time of Old-Age Pension Receipt in Czechia. Prague Economic Papers, 30(5), 575-595. doi: 10.18267/j.pep.785
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