Europe: One in three citizens over 55 forced to work due to cost of living

High inflation and shrinking pensions are forcing nearly one-third of Europeans over the age of 55 to extend their working lives beyond legal retirement age. According to Eurostat data, Europe is facing rapid population aging, with the proportion of citizens aged 65 and older rising from 17% in 2005 to 22% in 2025.

In Greece, the trend is particularly pronounced. As of September 2026, e-EFKA records show over 354,000 declarations of employment by retirees. With average primary pensions falling below 1,000 euros, many elderly citizens are seeking supplementary income to cover essential costs such as food and energy. This shift has created a new class of working retirees, providing a labor supply for employers amidst broader workforce shortages.