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Statistics show more retirees returning to work

A growing number of pensioners in Finland are rejoining the labour market. According to data from Statistics Finland, the number of retirees in paid work has quadrupled since the year 2000. Many are taking up work in services or sales.

Vanhuksen kädet tietokoneen näppäimistöllä.
Image: Yle

Some of Finland’s seniors are returning to work – either for the money or because they simply want to – in fact, some aren’t even retiring per se. This trend has seen the number of on-the-job persons over the age of 63 rise to 109,000. Roughly 40,000 are receiving retirement pensions and 37,000 are on part-time pensions.

Altogether the number of working seniors has quadrupled since the year 2000. One major factor driving the change is that pension reforms introduced in 2005 made it possible for workers to take flexible retirement between the ages of 63 and 68.

Currently individuals receiving retirement benefits can work without any limitations - as much as they want and are able to.

According to Statistics Finland’s Facts and Trends publication the majority of working retirees can be found in the services and sales sectors.

Part-time retirees on the other hand, tend to work as specialists or consultants. Most of the members of this group tended to be former teachers.

Many of the over-63 year-olds who continue to work without receiving retirement benefits are often business leaders, agricultural entrepreneurs, specialists or consultants.

The data show that the career disparities between men and women continued into retirement. Some 18 percent of female retirees who continued to work did so in the care sector – either in nursing or other health care professions. Roughly 17 percent of retired men continued working in the transport field.

Statistics Finland said that working seniors aren’t always motivated by money, but often get back into the workforce because of their motivation and desire to work.

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