FACTORS DETERMINING THE DECISION TO RETIRE

Abstract

In the recent years, regarding to changing socio-economic ad demographic conditions, the professional activity of the older persons is particularly underlined. The measures directed towards increase of share of 50+ group in labour market have been undertaken. In order to achieve this goal, the reasons for limiting the activity of people in age around retirement should be first identified. The aim of the paper is to identify factors influencing decision on retirement. The conducted inquiry research proves that responders relatively earlier exercised their right to benefits. Responders' average retirement age amounted to 58.6 years. The majority of factors determining the decision on retirement are directly related to the pension system, and first, with the entitlement rules and calculation of benefit level. As a main reason for retirement the responders indicated reaching the retirement age, and then favourable financial conditions.