A more recent publication of this set of statistics is available: Effective Retirement Age

Effective Retirement Age

Small rise in effective retirement age

In 2011, the average retirement age in the earnings-related pension scheme was 60.5 years. The increase from the previous year was 0.1 years. The effective retirement age has increased by 1.5 years from the level prior to the pension reform, in other words nearly according to estimates. The change in effective retirement age is measured by the expected effective retirement age, which is based on starting pensions according to age cohorts.

Last year the total number of new retirees increased somewhat. Since unemployment pension is no longer granted to persons born in 1950 and later, the number of people retiring on said pension continued to decrease.  On the other hand, more people retired on an old-age pension. In other respects changes were small.

The expected effective retirement age in the private sector was 60.7 years, which is the same as last year. The expected effective retirement age in the public sector remained the same (61.1 years). Until 2006, the effective retirement age in the private sector was higher than in the public sector, but in 2007 the roles were reversed.

The difference between men and women in effective retirement age has become clearly smaller in the last few years. There is now hardly any difference, as men and women retire at the same age. Last year the expected effective retirement age for men was 60.4 years, and for women, 60.5. Previously the expected effective retirement age for women was clearly higher than that of men.

Roughly 72,000 people retired on an earnings-related pension in 2011, which is slightly more than the previous year.

Expected effective retirement age for 25-year-olds and 50-year-olds

 Year 25-year-olds  50-year-olds
 2007  59.5  61.6
 2008  59.4  61.4
 2009  59.8  61.7
 2010  60.4  62.3
 2011  60.5  62.4