More than three quarters (78 per cent) of Finnish pensioners feel that they are financially prepared for retirement, research by Ilmarinen has found.

The pension company found that the most common ways to prepare for retirement were property purchase and investment.

Of those surveyed, 36 per cent had invested in funds, shares or real estate.

Although most feel financially prepared for retirement, half of the respondents felt that their pension was not sufficient.

Ilmarinen also found that retirees were increasingly likely to want to work in retirement, with two-thirds wishing to do so.

Although the proportion of retirees that felt good or very good about their health and wellbeing had fallen slightly since 2018, 70 per cent were positive about their health, compared to 5 per cent who described their health as poor.

Currently, working in retirement is supported by tax deductions from both pensions and earnings, with the greatest benefits coming from an annual salary of around €10,000.

However, only around 40 per cent of retirees knew that they could receive tax deductions on both their pension and salary.

“Retirees are well on average, commented Ilmarinen researcher, Jouni Vatanen.

“Four out of five feel that retirement has been a positive thing for well-being. It seems that in recent years there have been better and better retirees.

“Compared to the situation a year ago, just as many did not have their own housing, but on the other hand, more and more people had invested.

“There were differences between the groups in how well they themselves prepared for retirement days. Those who have retired as unemployed, receive a pension of less than €1,400 and live alone are less prepared.”

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