Average retirement age has increased in Finland

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from HELSINGIN SANOMAT INTERNATIONAL EDITION Somewhat surprisingly, the average age of retirement in Finland rose from 59.4 in 2008 to 59.8 last year, regardless of the ongoing recession and rising unemployment.

Experts have been rather taken aback by the fact that the average age of retirement in Finland rose noticeably from 59.4 in 2008 to 59.8 last year, in spite of the ongoing recession and rising unemployment figures.

In comparison, the pension age in 1999 was below 59 years.
The pension age keeps rising, as the rules have been changed and as people also live longer.

The increase as such is in line with the forecasts made following the major pension reform of 2005 that introduced a so-called flexible retirement age from 63 to 68 years. The objective of the pension reform was to encourage employees to stay at work longer.

However, a severe economic decline hit the country, and news stories on senior employees being urged to take retirement were reported from various parts of the country. At the same time, it has been said those employees suffering from burnout have left the workforce prematurely since they have been granted disability pensions.

This development has nevertheless not been reflected in retirement figures - at least not yet.

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