Workplaces pleased with retirement age of 63

15.11.2012

According to a questionnaire study performed by the Finnish Centre for Pensions, the flexible lower old-age retirement age of 63 is widely accepted by both employees and employers. Raising the age limits receives hardly any support at workplaces. Employees find that current working conditions (hectic pace, inflexible working hours and mental strain) prevent them from working beyond the age of 63.

According to the study, 70 per cent of employers and 86 per cent of employees find 63 to be a suitable lower old-age retirement age. Only a small percentage in both groups finds the age limit too low.

Employers do not desire to employ elderly people any more now than in the early 2000s. A significant share of employers consider there to be no need to prolong working careers in general or at their own workplace.

The flexible old-age retirement age (63 to 68) introduced in 2005 has given the majority of people retiring on old-age pension the opportunity to choose for themselves when to exit working life. Most of them chose to retire on an old-age pension at age 63. In general, people who would otherwise have a short working career and therefore a low pension tend to carry on working past the age of 63.

• Press release of the Finnish Centre for Pensions
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