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Sweden, Germany and Denmark rank in the first three places at European level, with an employment rate of over 70%, while seven states have a level below 50% of this rate, namely Malta, Poland, Slovenia, Romania, Croatia, Greece and Luxembourg.
The employment rates of men and women between 55 and 64 years of age in the European Union were 65% and 52% in 2018, higher than the average rates recorded for all adults, respectively 60% and 48% .
The most important aspect is the rapid increase of the employment rates for people between 55 and 65 years old between 2003 and 2018 (with little or no significant impact from the financial and economic crises,). This is noticeable in relation to the increasing proportion of working women.
Between 2003 and 2018, the employment rates for this age group increased in all Member States except Greece. In Slovenia and Bulgaria, the employment rate for these people doubled, and the rate was even faster in Slovakia (2.2 times higher).
One of the ways to increase financial security in old age is to work harder. Older people who postpone their retirement earn more money, accumulate additional pension rights, and be able to save more or more to direct their money to a private pension plan.
Although the proportion is low, a larger share of the EU population aged 63 to 74 has continued to work. In 2018, over a quarter (26%) of the people included in this age group were employed in Estonia, with rates over 15% being recorded in Romania, Lithuania, Portugal, Great Britain, Ireland, Sweden and Latvia.