Retirement Intentions and Increase in Statutory Retirement Age: 2017 Pension Reform and Intended Retirement Age in Finland

Abstract

To extend working lives, the 2017 Finnish pension reform introduced a gradually rising statutory retirement age, from 63 to 65 years and over. We investigate how the intended retirement age has adjusted after the reform. Survey data from 2008 (N = 1,346) and 2018 (N = 1,386) include employees aged 50–62. The results indicate that, unlike in many countries, in Finland the intended retirement age has increased in tandem with the statutory retirement age. One explanation for this might be knowledge: due to the extensive information campaign, the Finns know about the reform and can make realistic retirement plans

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