The average retirement age for Finns has shifted to 63.2 years, according to the Finnish Centre for Pensions (ETK). This trend indicates a rapid delay in the retirement age, attributed to various reforms in pension security. Discussions initiated by labor market organizations and the government in 2009 set a goal to increase the average retirement age from 59.4 to at least 62.4 years by 2025, and this objective has been exceeded ahead of schedule.

Mikko Kautto, the CEO of ETK, noted that significant changes in pension rules played a crucial role in this development. The elimination of unemployment pensions in the early phase and the later raising of the retirement age limits have contributed to the shift. Additionally, changes in the labor market, along with improvements in educational levels and work capacities, have led to a decrease in the incidence of disability pensions, which further supports the trend of delayed retirement.

Kautto emphasized that this change has positively influenced public finances. The sooner retirement age not only aligns with the workforce’s capabilities but also strengthens the overall economic stability of the country. As more individuals remain in the workforce longer, this shift could lead to long-term benefits for the Finnish pension system and public finance management, reflecting a significant adjustment in the Swedish economic landscape.