Every year, thousands of people retire. When one chooses to leave working life, however, differs significantly depending on several different factors. Some choose to retire early, others to continue working for a while after reaching retirement age.
What governs when one chooses to retire differs, but for some the financial conditions make it easier to retire early, while for others it requires a couple more years in professional life.
The government’s decision: The target age is changed
Recently, the government made the decision to set the target retirement age for 2030 at 67 years. This means that you can then withdraw the general pension at the earliest at the age of 67.
On the other hand, those who choose to continue working and become so-called job holders after reaching the age can receive a substantial supplement once the pension is deposited into the account. The reason is that a couple of extra years means that the future payment increases.
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Pensioner? So many continue to work
Being a so-called job holder is something that has become increasingly common in Sweden. In order to extend their pension, many choose to continue working for a few years, either to the same extent as before or by going down to part-time.
During the last two decades, employment among the elderly has doubled, according to figures from Statistics Norway, Statistics Sweden.
– More elderly people continue to work after retirement age. Those aged between 65 and 74 have gone from an employment rate of 10 per cent in 2001 to 20 per cent in 2023, says Louise Steinerstatistician at Statistics Sweden in one press release.
When it comes to pensioners aged 75-89, the employment rate was only seven percent in 2023, which corresponds to 65,700 individuals.
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Photo: Pontus Lundahl/TT This is how pensioners’ jobs are distributed in different industries
What stands out in Statistics Norway’s report is that working hours have changed at the same time as the percentage of employed people has increased. Men work to a greater extent more hours a week compared to women, while more women choose to go down to part-time compared to men.
It is common for those who choose to continue working after reaching retirement age also continue to be professionals in the same job or industry. When it comes to which industries house the most elderly people, there are some differences between men and women.
Charlotte Breitz she is also a statistician at Statistics Sweden, and in the same press release she explains which are the most common industries to continue working in.
– Older women mainly work in health care. Many older men work in finance and business services.
Statistics Sweden’s report is based on statistics from labor force surveys and refers to people aged 55-89 in Sweden.
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