Theories and mechanisms of productive employment in the context of Czech pension reform

Abstract

In this article, we have focused on showing the most significant benefits of the approach which motivates individuals to extend the period of their productive lives in the job markets [...]. The aim of the paper is to demonstrate that the focus on voluntary extension of productive employment by means of incentives incorporated into the pay-as-you-go pension scheme can bring significantly greater effects than a general extension of retirement age, in particular when doing the comprehensive solution of this issue and in the long term creating conditions in the form of comprehensive reforms in the areas of social investment and social insurance.