J26 - Retirement; Retirement PoliciesReturn

The development of the standard of living of pensioners is an important issue that is very rarely analysed. The paper focuses on the development of households' consumption for both economically active and economically inactive households. Besides the impacts on individuals' consumption, it is the most important expenditure component of gross domestic product. The change in households' consumption is also caused by population aging. It means that the proportion of people in the retirement age and pensioners' households increases. Actually, this causes that the number of people needed to provide for retired people is decreasing. The paper deals with the analysis of future living conditions of pensioners, i.e., people, who are still part of the productive population nowadays. This text also deals with present and future consumption by different types of households based on a projection of the population in the retirement age. Finally, estimates of the structure of their consumer spending and comparison with the current spending are presented.