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Euroopan komission ESDE 2017-konferenssissa

European Commission: An exemplary pension reform in Finland

The employment report of the European Commission calls Finland’s pension reform an embodiment of the solution to the pension problems of an ageing Europe. According to the Commission, the Finnish pension reform will extend working lives, curb pension expenditure and improve employment rates.

Partial old-age pension popular also in Sweden and Norway

Early retirement is particularly popular in Norway, where one third of those who have a right to take out an old-age pension do it early. Nine out of ten draw the pension in full as soon as it is possible. In Sweden, early retirement is popular because retired people have a right to get various […]

Vaaka kuvituskuva

Evaluation of long-term projections

A report that compares the long-term projections of the Finnish Centre for Pensions with the actual outcomes shows that the projections perform as intended. The projections for earnings-related pension expenditure have reflected the real outcome the most. The long recession following the financial crisis has been underestimated in the projections.

Every third elderly considers working in retirement

Finns are more increasingly interested in working in retirement. As many as every third person aged between 54 and 62 years considers working after they have retired. In particular, the self-employed, the highly educated and those who are worried about their retirement income are interested in working while drawing a pension.

Live chat service trial on etk.fi and tyoelake.fi now launched

We have launched a live chat service trial on the websites etk.fi and tyoelake.fi from 4 September to 31 December. During the trial period, our customer service staff will answer your questions about earnings-related pensions, in particular how to insure work abroad and how to apply for an insurance from abroad, as well as questions […]

Low pensions for disabled young people

The average disability pension of under-45-year-olds was 905 euros in 2016. A recent study by the Finnish Centre for Pensions reveals that two thirds of the young disability pensioners got only a national pension.

New booklet for employers who hire workers from abroad

If you employ workers from outside the EU to work in Finland, you have to take out earnings-related pension insurance for them. How you arrange their insurance depends on, for example, if your workers are posted to Finland or if they sign an employment contract with a Finnish employer.

Changes in work greatly impact pensions and public finances

A stagnated growth in wages would, in the long run, increase the pressure to raise the pension contribution amount by 4 percentage points. In addition, it would increase the distress of public finances. Full employment would raise future earnings-related pensions, ease their financing and remove the sustainability gap. The new scenario calculations illustrate the impacts […]

News
Euroopan komission ESDE 2017-konferenssissa

European Commission: An exemplary pension reform in Finland

The employment report of the European Commission calls Finland’s pension reform an embodiment of the solution to the pension problems of an ageing Europe. According to the Commission, the Finnish pension reform will extend working lives, curb pension expenditure and improve employment rates.

Partial old-age pension popular also in Sweden and Norway

Early retirement is particularly popular in Norway, where one third of those who have a right to take out an old-age pension do it early. Nine out of ten draw the pension in full as soon as it is possible. In Sweden, early retirement is popular because retired people have a right to get various […]

Vaaka kuvituskuva

Evaluation of long-term projections

A report that compares the long-term projections of the Finnish Centre for Pensions with the actual outcomes shows that the projections perform as intended. The projections for earnings-related pension expenditure have reflected the real outcome the most. The long recession following the financial crisis has been underestimated in the projections.

Live chat service trial on etk.fi and tyoelake.fi now launched

We have launched a live chat service trial on the websites etk.fi and tyoelake.fi from 4 September to 31 December. During the trial period, our customer service staff will answer your questions about earnings-related pensions, in particular how to insure work abroad and how to apply for an insurance from abroad, as well as questions […]

New booklet for employers who hire workers from abroad

If you employ workers from outside the EU to work in Finland, you have to take out earnings-related pension insurance for them. How you arrange their insurance depends on, for example, if your workers are posted to Finland or if they sign an employment contract with a Finnish employer.

Työntekijät kädet yhdessä

Ilmarinen and Etera to merge

Earnings-related pension insurance companies Ilmarinen Mutual Pension Insurance Company and Etera Mutual Pension Insurance Company are to merge at the beginning of 2018. The companies’ boards of directors have approved the contract of merger by which Etera will merge into Ilmarinen.

Construction firms – typical customers of the Supervisory Department

According to the customer classification made by the Grey Economy Information Unit of the Tax Administration, every fourth case of supervision relates to insurance unclarities in construction firms that operate in Uusimaa. The following most common employer groups operate in trade and the hotel and restaurant business.

Press releases

Every third elderly considers working in retirement

Finns are more increasingly interested in working in retirement. As many as every third person aged between 54 and 62 years considers working after they have retired. In particular, the self-employed, the highly educated and those who are worried about their retirement income are interested in working while drawing a pension.

Low pensions for disabled young people

The average disability pension of under-45-year-olds was 905 euros in 2016. A recent study by the Finnish Centre for Pensions reveals that two thirds of the young disability pensioners got only a national pension.

Changes in work greatly impact pensions and public finances

A stagnated growth in wages would, in the long run, increase the pressure to raise the pension contribution amount by 4 percentage points. In addition, it would increase the distress of public finances. Full employment would raise future earnings-related pensions, ease their financing and remove the sustainability gap. The new scenario calculations illustrate the impacts […]

One third of partial old-age pension retirees not working

The partial old-age pension, a new pension type introduced at the turn of the year, has turned out to be more popular than expected. A recent questionnaire survey conducted on behalf of the Finnish Centre for Pensions reveals that every third person who gets a partial old-age pension is not working.

’I will also get a pension’: Campaign simplifies pension information

The Finnish Centre for Pensions has launched a campaign in which it tells about earnings-related pensions in a simple and easy-to-understand way. The Facebook site includes, among other things, a pension calculator that tells you what your retirement age is and gives you an idea of how much pension you will get.

Pension gap between men and women: €600 on average

In 2016, €26 billion were paid in earnings-related pensions in Finland. That is an increase of €700 million compared to the previous year. A record-high 57,000 persons retired on an earnings-related old-age pension last year. Although the gap between men’s and women’s pensions has narrowed, it is still considerable.

Average monthly pension €1,632

The average monthly total pension in 2016 was 1,632 euros. Women’s pensions averaged 79 per cent of men’s. The highest pensions were paid in Uusimaa (€1,942) and the lowest in Southern Ostrobothnia (€1,403).

Brochure recipients knew more about the pension reform

Those who received the brochure knew the pension reform well, as much as three times better than those who did not get the brochure. Brochure recipients also regarded the pension reform as just and fair more often than non-recipients. However, the brochure had no effect on retirement intentions.