Organisation for Economic Co-Operation and Development's Ageing And Employment Policies Czech Republic: Czech PDF
By Organisation for Economic Co-Operation and Development
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Additional info for Ageing And Employment Policies Czech Republic: Czech Republic (Private Pensions Series)
The insurance period is set to increase to 30 years for both men and women under the proposed new reform. Whereas men are entitled to an old-age pension at age 60, women gain the right to retirement between the ages of 53 and 57 (still after 25 years of service and depending upon the number of children raised). The “normal” age of retirement has been rising gradually since 1996, so that by the year 2006 it will reach 62 years of age for men, and 57-61 years of age for women. More specifically, the normal retirement age increases by two months each year for men and four months each year for women.
THE CHALLENGE AHEAD eventual decline in the labour force, though the intensity of the decline is considerably moderated under the “maximum” scenario. Under the “constant” scenario, if participation rates remain constant over the next 50 years, the labour force will be reduced by nearly 40% from its current level and more than 23% below the level experienced in 1950. 4). Conversely, under the “maximum” scenario the labour force would continue to grow until 2025 but from 2030 onwards, the rate of decline – equivalent to the “constant” scenario – is so strong that by 2040 the labour force pool will fall below its 2000 level.
These OECD projections were made on the basis of similar macroeconomic and demographic assumptions in each OECD country, allowing for meaningful international comparison. For details regarding these projections, see OECD (2001a). 4. The total increase in age-related spending expected to occur between 2000 and 2050 incorporates spending changes in public old-age pensions, health and AGEING AND EMPLOYMENT POLICIES: CZECH REPUBLIC– ISBN-92-64-01661-9 © OECD 2004 CHAPTER 1. THE CHALLENGE AHEAD – 33 3.
Ageing And Employment Policies Czech Republic: Czech Republic (Private Pensions Series) by Organisation for Economic Co-Operation and Development