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Where can EU workers be found who choose to work after retirement?


A recent study conducted by Eurostat reveals that 13% of individuals in the European Union continued working after receiving their old-age pension in 2023. This data highlights a trend of postponed retirement as retirement ages have increased significantly in many EU countries. The survey found that about half of post-retirement workers maintained their previous employment, while the other half made adjustments such as switching jobs or reducing their working hours.

The Baltic countries, particularly Estonia, Latvia, and Lithuania, had the highest proportion of post-retirement workers, while countries like Romania, Greece, and Spain had the lowest shares. The reasons for continuing to work varied, with nearly two-thirds citing enjoyment of work or financial necessity. Other reasons included the desire for social integration and financial attractiveness of work.

Countries like Denmark, Netherlands, and Italy had a higher proportion of individuals continuing to work because they enjoyed it, while Cyprus, Romania, and Bulgaria had a higher percentage of individuals doing so out of financial necessity. According to labor market researcher Jelle Lossbroek, the differences in pension systems play a significant role in individuals’ decisions to continue working, with countries like Luxembourg and the Netherlands offering more generous public pensions than countries in Eastern or Southern Europe.

The study also found that the transition from the labor market to retirement typically begins in individuals’ late 50s, with most individuals leaving the labor market before the age of 70. These findings shed light on the evolving dynamics of retirement in the EU and the various factors influencing individuals’ decisions to continue working post-retirement.

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Photo credit www.euronews.com

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