Almost one-third of Cypriots aged 50-74 continue working while receiving their pension, nearly triple the EU average of 10.3%, according to new Eurostat data released Monday.
Financial necessity drives 68.6% of Cypriot pensioners back to work – the highest percentage in Europe – while only 19.1% continue working because they enjoy it, compared to EU averages of 28.6% and 30.3% respectively.
Estonia leads the EU with 54.9% of pensioners in employment, followed by Latvia at 44.2% and Lithuania at 43.7%.
Cyprus ranks fifth at 29.6%, while Belgium (9.4%), Romania (1.7%), and Greece (4.2%) report the lowest rates.
The study reveals sharp contrasts in motivation across Europe.
Denmark (61%), the Netherlands (59.6%), and Italy (51.7%) show the highest percentage of pensioners working for enjoyment, while Spain (17.9%) and Cyprus (19.1%) report the lowest.
Cyprus also records notably low disability pension rates at 1.9%, well below the EU average of 4.6%. Estonia leads in this category at 11.5%, followed by Denmark at 10.1%.
In 2023, about 45.1% of EU residents aged 50-74 received some form of pension, with 39.7% receiving old-age pensions and 4.6% receiving disability benefits.
