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Nordic seniors want longer working lives

Nordic women and men work for longer than their European colleagues, and the retirement age is increasing. But there are also differences between the Nordic countries. In later years Denmark has considered Sweden and Norway to be good examples when it comes to employment among the older generation. So why the differences, and why do more people want to work for longer?
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Shorter life expectancy but the same number of years in retirement

Danish workers retire earlier and their life expectancy is lower compared to Swedish workers. Yet Danes can still enjoy their retirement as long as the Swedes can:

Average retirement age:

Denmark: men 63.2 years; women 61.4 years

Sweden: men 64.7 years; women 64.0 years

Based on the expected remaining lifespan at 60, Danish men can enjoy their retirement for 17.4 years while Swedish men can enjoy theirs for 17.7 years.

The duration of Danish and Swedish women’s retirement is 22.2 years for Danish women and 21.5 years for Swedish women.

 Source: Professor Per H. Jensen, Aalborg University

 

Seniors in the Nordic region

 

■ The labour force participation rate in the Nordic region is high and stable and shows little sign of changing as a result of the economic crisis

■ There are no signs of a ‘replacement policy’ of seniors to the benefit of young people in the labour market

■ The retirement age is relatively high and rising slightly

■ Retirements increase as people turn 60

■ Early retirement/retirement due to ill health/incapacity retirement is the main way out for people in their 50s

■ Early and flexible old age retirement is the main way out for people in their 60s

■ A sustainable economy, welfare and generational balance are overarching goals

■ Pension reforms are central

■ Non-discrimination, information and influencing attitudes

Source: Bjørn Halvorsen, Nordic Centre for Welfare and Social Issues

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