HS survey: Working Finns wish to retire at 60 years of age
Finns not keen to lengthen careers
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With the government and authorities initiating measures that could lengthen the careers of Finns up to even the age of 68, those Finns who are currently working are planning to retire early.
According to a survey commissioned by Helsingin Sanomat, young Finns would like to retire before turning sixty. In addition to the youngest workers, those who have more physically demanding jobs hope to leave the job market at a younger age.
However, there is little variation among age groups with respect to the desired retirement age: 60 is considered to be the best retirement age on average.
Only Finns with part-time jobs, those in older age groups, and those in executive positions expressed interest in working a bit longer. However, all respondents chose their favourite retirement age from the range of 59.4 to 61.6 years.
Over the next few years, the retirements of the baby-boom generation will mean that more Finns will be leaving the workforce than entering it.
The planned pension reforms will give Finns the subjective right to work until the age of 68. The aim is to encourage Finns to retire between the ages of 63 and 68, and the longer one works, the larger one's pension will be. It will also be possible to continue working past the age of 68, with a postponement bonus as an incentive.
Despite the demands for longer working careers, employers have voiced concerns that the retirement age of 68 is too high. For example, the municipal sector, which employs the largest number of people in Finland, has mixed feelings about employees wishing to continue to work past even the lowest possible retirement age.
Helsingin Sanomat
