Working past retirement
What can we learn from Sweden?
In the UK 67% of people between the ages of 55 and 64 are in employment; in Sweden it’s 83%, the second highest in the developed world, just behind Iceland. For the over 65’s Sweden drops to 20%, but this is still double the percentage in the UK. So what can we learn from our Nordic neighbours?
According to an article in the Times, Sweden has introduced a number of measures over the years to incentivise citizens to work longer; for example tightening the criteria for receiving disability benefit and reducing employer contributions for companies who hire older people. However in the UK we have made it much easier for people to draw their pensions earlier, currently 55 (due to rise to 57 in 2028).
As interestingly, the article refers to an organisation in Sweden called Veteranpoolen (Veteran Pool), a company which employs only retired people and then hires them out to both other companies and individuals. It’s run on a franchise basis with about fifty franchisees in the country. They have an interesting website (https://veteranpoolen.se) which contains many examples of people who have found returning to work enjoyable. (Google will translate Swedish to English for you).
Here’s one example. George, a painter of four decades experience, retired at 67. After a few weeks at home he became bored so he re-engaged via Veteranpoolen and now receives different painting assignments for individuals. He works the hours he chooses and will take time off when he wants to.
Key to success is providing flexibility to the job holder who may not want to work a traditional working week once they have reached retirement age.
Here's a link to The Times article referred to earlier:-
How has this information affected your thinking? Have you re-started work after retirement; if so do tell us your story.