More opt to retire after Finnish reform
Finland has seen a “moderate” rise in old-age pension applications following reform to the system, according to the Finnish Centre for Pensions.
But it says it “cannot yet estimate the number of persons who have postponed their retirement”. Under reforms that came in this year, people are able to take old-age pensions more flexibly between ages 63 and 68.
“The number of applications for an old-age pension has increased moderately as the pension reform took effect,” the centre says. “The number of applications for an old-age pension which had become pending by the end of January this year increased by less than 4,000 applications compared to the same date the previous year.
“Less than every fifth person entitled to make use of the flexible retirement age has so far made use of the possibility to take the statutory old-age pension earlier.”
It says more than 2,000 people have retired under the new legislation.