2022
DOI: 10.1111/rego.12475
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Regulating the retirement age—Lessons from Nordic pension policy approaches

Abstract: The likelihood that longevity will continue to increase has generated a search for regulation that make people work longer as they live longer, and thus not just containing pension expenditure but also enlarging labor supply, economic growth, and tax revenue. In public pension policy, Nordic countries have led the world with three types of approaches aimed at making people retire later. The first came when Sweden, followed by Finland and Norway, installed life expectancy coefficients in benefit calculation for… Show more

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Cited by 5 publications
(3 citation statements)
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“…The few countries that do have initiatives related to pensions, such as Spain, focus on mitigating inequalities in old‐age. Spain, but also Sweden, is increasing the pension age (von Nordheim and Kvist, 2022 ). In other areas where the EU has been active in the past, such as social investment, substantial investments are planned.…”
Section: Ngeu: Which Kinds Of Investments and Reforms Among Member St...mentioning
confidence: 99%
“…The few countries that do have initiatives related to pensions, such as Spain, focus on mitigating inequalities in old‐age. Spain, but also Sweden, is increasing the pension age (von Nordheim and Kvist, 2022 ). In other areas where the EU has been active in the past, such as social investment, substantial investments are planned.…”
Section: Ngeu: Which Kinds Of Investments and Reforms Among Member St...mentioning
confidence: 99%
“…Addressing unemployment and early exit among workers aged 55 and over is a central concern for Finland, where unemployment near retirement is higher and the effective retirement age is lower than in other Nordic countries (OECD 2020). In 2019, the average exit age in Finland was 63.9 for men and 63.5 for women, whereas in Sweden, Denmark, and Norway, these numbers varied between 65 and 66 for men and 64.1 and 64.7 for women (von Nordheim & Kvist 2023). Despite increasing retirement age and pension reforms, Finnish workers continue to retire earlier than their expected retirement age, partly due to unemployment in late career (Riekhoff 2018).…”
mentioning
confidence: 99%
“…These are due to pension reforms undergone since the 1990s, a universal welfare state regime and active and inclusive labor market policies (Aidukaite et al 2022;Halvorsen 2021). Increased retirement age has recently been linked with longer life expectancy, prolonging working life (Von Nordheim & Kvist 2022). However, a postponed retirement or receipt of pension does not necessarily prolong working life for all social groups when considering alternative exit pathways and precarious work with employment discontinuities.…”
mentioning
confidence: 99%