REACHING RETIREMENT AGE BY OLDER PERSONS. TRENDS AND CHALLENGES

Abstract

Each year, over 300,000 persons retire from the labour market in Poland. This is a worrying phenomenon especially in the light of the population ageing. It causes a loss for the economy of valuable labour resources, which are increasingly scarce. It also puts a heavy burden on public finance with the payment of an increasing number of old-age pension benefits. Retiring early immediately after obtaining entitlement or within a few months after this occurrence increases a risk of poverty. Pensions in Poland are generally low; the amount of the calculated benefit increases significantly with each additional year of work and payment of old-age insurance contributions. The article describes the issues related to the possibility of encouraging persons who have obtained the entitlement to an old-age pension to remain in the labour market and defer claiming the benefit. Based on the results of the Institute of Labour and Social Studies research project on mitigating the effects of the pandemic among high-risk groups, the author analysed the main reasons for retirement of persons at pensionable age and the motives indicated by them for continuing employment or returning to the labour market. On this basis, using selected elements of the support model developed in the cited project, solutions have been identified that may without the need to raise the statutory retirement age reduce the outflow of persons at retirement age from the labour market.