Six out of 10 (60 per cent) pensioners hope to be able to work in retirement, according to research by Ilmarinen, marking a “significant” drop from the 67 per cent of pensioners willing to work last year.

The survey, which examined issues related to retirement finances and preparedness, such as pensioners' financial situation, financial and digital skills, work ability, and willingness to work, showed that a third of pensioners already work in retirement.

Most respondents indicated they would like to work part-time but only about one in three have been offered further opportunities by their previous employer.

Given this, Ilmarinen researcher, Jouni Vatanen, emphasised the “need for a more active dialogue” between employers and both current pensioners and those approaching retirement.

“It would not only be important for the well-being and livelihood of pensioners, but employers would also have the opportunity to make better use of the expertise of veterans and the tacit knowledge that leaves with them,” Vatanen added.

The research also showed that the employment situation in Finland has worsened and the number of unemployed individuals has increased.

In terms of work ability, the research found that 51 per cent of the respondents said they would still be able to work in retirement, while 31 per cent completely or somewhat disagree with their ability to cope.

Compared to the previous year, the experience of one's own work ability weakened slightly.

The primary reason for early retirement was the health condition of pensioners, with almost four out of ten indicating that their health issues prompted them to retire sooner than planned.

"Although those who have retired are generally doing well, the situation has developed in a worrying direction over the past year,” Vatanen said.

However, he suggested that with proactive work ability measures, employers can support their employees' coping and help them continue in working life for longer.

The research also showed a lack of discussion around the option to continue work in retirement, with six out of 10 respondents claiming to have discussed retirement plans at their workplace only after the final decision had been made, or not at all.

Additionally, one in nine employees discussed their retirement intentions before making their preliminary decision, with the supervisor rarely being the initiator of this discussion (6 per cent).

More than half of respondents felt that the possibilities of continuing at work were not discussed, and approximately one in four felt that their employer had actively encouraged them to continue working longer.

Vatanen encouraged retirement plans to be discussed more “boldly” than at present, calling it “not just a decision to leave, but an opportunity to consider different options”.

“There is room for individual solutions when the final stage of one's career is viewed as a flexible rather than a predetermined route. This benefits both the employee and the employer,” he said.

---