A report on flexible retirement pathways by the European Social Policy Analysis Network (ESPAN) has just been published. Drawing on country reports, the synthesis report examines the main flexible retirement instruments and assesses their potential impact on labour market dynamics, redistribution, fiscal sustainability and quality of life.

Flexible retirement pathways across the EU and Norway

Flexible retirement pathways are widely available across the EU and Norway but vary significantly in their design and incentives offered.

• Deferred retirement, which can include actuarial and sometimes tax incentives, exists in all but one of the 28 countries covered.
• Differentiated pensionable ages, available in half of the countries, make it possible for workers to retire earlier without a penalty if they have a long contribution record, while flexible retirement ages, available in three countries, allow workers to choose their retirement age within a defined range.
• Combining a pension with income from work is possible in all countries with varying eligibility criteria, while the option to combine part-time work with a partial pension is less common.

The synthesis report concludes with several policy recommendations, including:

• enhancing the design and financial incentives for deferred retirement and combining pensions with work;
• better tailoring access to differentiated pensionable ages for workers with long careers and/or those in physically demanding jobs;
• improving the availability of both digital and non-digital information on flexible retirement options and planning;
• further integrating flexible retirement pathways with labour market policies.

Check out the following resources for more insights:

• a news article discussing the report including an interactive map
• the synthesis report
• the 28 country reports