Prospective Dimension of Population Ageing and Potential Use in Pension Security in the V4 Countries
Abstract
The main aim of the paper is to highlight the importance of remaining years of life in relation to demographic ageing. We use the V4 countries as our case study and analyse demographic ageing using the concept of prospective age and the relevant indicators to consider whether statutory retirement age should be readdressed given the rise in remaining life expectancy among seniors.
The classic indicators show ageing is increasing in the V4 countries. Using prospective indicators we can see that not only is the level of ageing significantly lower but that it is progressing more slowly, and in some cases reversing.
The prospective approach could also be important in setting pension age as it reflects changes in life and the principle of equitability. The results also show that the way pension age is fixed in the V4 countries may pose a risk to the sustainability of pension systems.