Retirement Intentions and Increase in Statutory Retirement Age: 2017 Pension Reform and Intended Retirement Age in Finland

To extend working lives, the 2017 Finnish pension reform introduced a gradually rising statutory retirement age, from 63 to 65 years and over. We investigate how the intended retirement age has adjusted after the reform. Survey data from 2008 (N = 1,346) and 2018 (N = 1,386) include employees aged 50-62. The results indicate that, unlike in many countries, in Finland the intended retirement age has increased in tandem with the statutory retirement age. One explanation for this might be knowledge: due to the extensive information campaign, the Finns know about the reform and can make realistic retirement plans.