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2006 OECD Economic Surveys: Finland 2006

image of OECD Economic Surveys: Finland 2006

This 2006 edition of OECD's periodic survey of the Finnish economy opens with a general assessment of recent economic performance and key economic challenges.  Among the challenges it addresses in more detail in succeeding chapters are ensuring fiscal sustainability in the face of imminent ageing, restricting early retirment to make the pension reform a success, increasing flexibility in centralised wage agreements, and using active and passive labour market measures to meet the employment target. This issue's special feature discusses reducing risks and improving policies in the housing market.

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Restrict Early Retirement to Make the Pension Reform a Success

A wide-ranging pension reform was introduced at the beginning of 2005. A central objective is to extend working lives by 2-3 years. However, success is likely to depend on further curtailment of early retirement pathways which will otherwise blunt the improved financial incentives to work longer in the reformed old-age pension system. The “unemployment pipeline” whereby the unemployed can effectively retire at age 57 should be abolished and activation measures for the older unemployed increased.

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