One third of 63-80 year old retirees are currently working or interested in working whilst drawing an old-age pension, according to research from the Finnish Centre for Pensions (ETK).

The survey revealed that 17 per cent of those receiving an old-age pension were still working, while 16 per cent said that they were interested in working in retirement.

Younger retirees and men were more likely to continue working in retirement, although the majority, nearly 70 per cent, of retirees on an old-age pension were not working in retirement and are not interested in working.

The most common reason for working in retirement, backed by 75 per cent of respondents who stated they were or wanted to work, was the desire to have something interesting to do, while 70 per cent wanted better social relationships.

Financial strain was also a contributing factor, as around 60 per cent wanted to earn extra income, while 37 per cent wanted to work because they have already experienced financial difficulties.

Indeed, ETK senior researcher, Anu Polvinen, explained that some retirees may "even feel forced to work", noting that "those with a low income and a lower educational level are motivated to work in retirement for financial reasons more often than others".

However, the research suggested that many retirees may find their age a barrier when looking for work, with poor health and a lack of skills perceived as key obstacles.

This may not always be the case though, as ETK noted that retirees are mainly interested in working occasionally or part time, and could meet the needs of employers as a flexible workforce.

“It would be important to develop operational models through which employers could find retirees on an old-age pension who want to work and retirees could find suitable work," ETK head of research, Susan Kuivalainen, added.

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