The number of working pensioners in Finland has decreased, partly due to the rise in the retirement age, according to the Finnish Centre for Pensions (ETK).

Over the past two decades, working alongside receiving a pension has become increasingly popular for Finnish pensioners, ETK said. However, increases in the number of pensioners choosing to work have now come to a halt.

According to the organisation, more than 180,000 pensioners worked throughout 2024, of whom nearly 100,000 were under the age of 68.

ETK development manager, Jari Kannisto, said that at the end of 2024, around 81,000 old-age pensioners were in employment, which “fell by a few thousand from the previous year”.

“As the retirement age for the old-age pension rises and people continue working for longer, the number of pensioners in work is declining,” he explained.

He added that pensioners' work isn't as regular as the rest of the population, meaning that employment fluctuates from month to month, typically showing a drop in the summer and a slight increase in the winter.

Kannisto noted that this decrease in the number of working Finns did not come as a "complete surprise", as the rising retirement age has an impact on the statistics, but it also reflects the weak economy.

“As the prolonged recession has weakened employment among the entire population, this has also been reflected in the employment opportunities for pensioners,” he said.

Despite this, ETK stated that the employment rate for those over 65 continues to rise as more people choose to continue working after reaching their retirement age.

“We have considerable workforce potential among those aged 65 to 70,” Kannisto said. “In this group, both individuals are extending their careers and pensioners who work.”

He emphasised that encouraging employment within this age group is “crucial” to keep older people active in the labour market.

Indeed, figures from ETK revealed that old-age pensioners most likely to be in work are those between the ages of 65 and 68, and in these age groups, around 7,000 to 8,000 people are still working.

“In 2024, old-age pensioners under the age of 68 worked, on average, for just over six months. Those aged 70 worked for an average of just over five months,” Kannisto said.

The figures also found that among the older age groups, working isn’t as common, and of those aged 80, only around 1,000 old-age pensioners are in employment.

In addition to this, data from ETK showed that in 2023, one in five old-age pensioners received at least €500 per year in earned income from work or self-employment, while nearly one in 10 earned over €10,000 from working.

The research also highlighted that individuals with higher levels of education and income are more likely to work while drawing an old-age pension.

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