Twenty-six per cent of Finnish pensioners say their pension is not enough to live on, which is why they are drawn to work in retirement, a new survey by Finnish earnings-related pension provider, Elo, has found.

The survey of 1,205 pension recipients in August, looked at the motivation for Finnish retirees seeking employment. Twenty-seven per cent said the labour shortage and the opportunity to help alleviate it affected their willingness to continue working. For those working in health and social services this figured increased to 41 per cent.

Traditionally, the reasons for working in retirement have been related to the desire to do meaningful things and the opportunity to improve one's standard of living.

"More and more pensioners are stretching themselves and taking responsibility when they see the concrete effects of labour shortages at workplaces. Especially in health and social services, employee solidarity is emphasised. We do not want to leave our colleagues in the lurch but come to the rescue ourselves. The rising cost of living is another big factor. Many pensioners are struggling, even though index increases have eased the situation slightly,” Elo director of society, Katja Veirto, said.

According to Elo's survey, 87 per cent of those working alongside their pension have continued in the same field and 63 per cent with the same employer as before retirement. Very few people move to another job in retirement or get job opportunities in a new field.

"Finland lags behind the other Nordic countries in terms of employing veterans. Private sector employers, in particular, still have a significant labour reserve of veterans. It's a shame, because this group has enthusiasm, competence and ability to work," Veirto added.

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