FINLAND - The expected effective retirement age has not yet increased, despite being a key aim of the 2005 pension reform.
According to The Finnish Centre for Pensions (Eläketurvakeskus/ETK) people still retire on an earnings-related pension aged approximately 59.
It said that the expected effective retirement age had hardly changed in recent years. A main aim of Finnish pension policy is to postpone effective retirement by two to three years.
The centre said the reason for the lack of progress in the first year since the reform was that in the same year three age groups, those born in 1940 to 1942, became entitled to earlier retirement.
However the reform contained several measures aimed at postponing effective retirement, including financial incentives to stay in employment.
Jari Kannisto, development manager at the ETK statistical department, added that those who had reached the age of 50 had postponed their retirement by six months in recent years.
The centre found that last year people retired on average at the age of 59.1 years, and those who had reached the age of 50 on average at the age of 61.1 years.
The figures include both private-sector and public-sector retirees.
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