Research on retirement
There are different routes to retirement. Research on the timing of retirement and type of pension benefit provide information on how working lives have extended and how common various pension benefits are (such as the disability pension or the partial old-age pension).
During the research program period, we will study retirement by pension benefit and population group, with a special focus on the effects of the 2017 pension reform. In addition to actual retirement, we will review the population’s retirement intentions and the connection between the intended and actual retirement age. We will review the connection between retirement and workplace-level factors, as well as employers’ attitudes to ageing workers and to the retirement ages within the pension system.
The working life of many ends in retirement on a disability pension. Under this research programme, we will examine disability retirement rates, time-related changes in disability pension application and rejection rates, as well as how the changes differ between various population groups and how they affect the number of persons drawing a disability pension. We will also examine how health, work ability and working conditions affect retirement on a disability pension, measures that support work ability and the process of retirement.
New study
Why has the number of disability pensioners decreased?
The number of disability pension recipients has dropped by more than 25 per cent between 2010 and 2020. For the main part, this is because many of the babyboomers have transitioned from a disability pension to an old-age pension. At the same time, the number of starting disability pensions has declined. This is observed in a research article by the Finnish Centre for Pensions.
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Positive perceptions of work and working conditions may encourage late retirement
Work that is found meaningful and perceived to be less hectic and not involving too many changes is linked to late retirement. This is evident from a survey conducted by the Finnish Centre for Pensions that examined the perceptions of persons who retired on an old-age pension between 2019 and 2021.
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- Study: Positive perceptions of work and working conditions may encourage late retirement (14.9.2023)
Rising retirement age reflected in rising employment rate – unemployment and disability have also increased
The gradual increase of the retirement age agreed on in the 2017 pension reform has considerably raised the employment rate of those approaching their retirement age. At the same time, unemployment and disability retirement have also clearly increased.
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Occupational class inequalities in physical functioning widened after old-age retirement and narrowed after disability retirement
Occupational class inequalities in physical functioning (PF) increased after old-age retirement and decreased after disability retirement. In a study by the University of Helsinki and the Finnish Centre for Pensions, we have reviewed for the first time how PF has developed after old-age and disability retirement.
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More on other sites:
- Trajectories in physical functioning by occupational class among retiring women: the significance of type of retirement and social and health-related factors (Journal of Epidemiology & Community Health) | Approved manuscript of article (Helda)
Higher risk of disability pension retirement among Finnish public sector than private sector employees
Retirement on a disability pension is more common in the public than the private sector. The differences are particularly high when it comes to retirement on a partial disability pension and varied by occupational group. The study was published in the Scandinavian Journal of Public Health.
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Finns’ retirement intentions keep pace with rising retirement ages
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2017 pension reform successful – retirement clearly deferred
A recent study by the Finnish Centre for Pensions shows that retirement has been deferred clearly, particularly in the private sector. Working after age 63 has also increased significantly, again particularly in the private sector. The gradual increase of the retirement age was agreed on in connection with the 2017 pension reform.
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