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Incomes Register under construction in Finland

An Incomes Register is constructed in Finland. It will be launched in 2019. The aim of the register is to ease the administrative burden of employers and to make it easier for citizens to apply for different benefits.

Number of working retirees growing slowly

At the end of 2016, roughly 70,000 persons aged between 63 and 67 years worked. Half of them were also retired. They count for 18 per cent of the population of this age group. Since 2007, the share of working retirees has grown by nearly four percentage points. In the 2010s, the growth has decelerated […]

Rakennustyömaa

More visibility to supervision through joint inspection visits

Together with the Tax Administration and the Regional State Administrative Agencies’ occupational safety and health authorities, the Finnish Centre for Pensions has supervised construction sites in Uusimaa already for several years. The inspection visits have been unannounced.

Nainen ajaa polkupyörällä

One third of over-16-year-olds get a pension

More than 1.4 million people who live in Finland get a pension in their own right. The number has grown by one third since 1990. At the same time, the earnings-related pension expenditure has tripled. In 2016, a total of 26 billion euros was paid in earnings-related pension and 2.5 billion euros in Kela pensions.

Melbour Mercer Global Pension Index -logo

Finland in top five in international pension comparison

The Finnish retirement income system ranked 5th in the international Melbourne Mercer Global Pension Index (MMGPI) comparison published today. For the fourth time in a row, Finland topped the integrity and transparency sub-indexes, but the country’s overall ranking fell by one notch.

News

Incomes Register under construction in Finland

An Incomes Register is constructed in Finland. It will be launched in 2019. The aim of the register is to ease the administrative burden of employers and to make it easier for citizens to apply for different benefits.

Number of working retirees growing slowly

At the end of 2016, roughly 70,000 persons aged between 63 and 67 years worked. Half of them were also retired. They count for 18 per cent of the population of this age group. Since 2007, the share of working retirees has grown by nearly four percentage points. In the 2010s, the growth has decelerated […]

Rakennustyömaa

More visibility to supervision through joint inspection visits

Together with the Tax Administration and the Regional State Administrative Agencies’ occupational safety and health authorities, the Finnish Centre for Pensions has supervised construction sites in Uusimaa already for several years. The inspection visits have been unannounced.

Nainen ajaa polkupyörällä

One third of over-16-year-olds get a pension

More than 1.4 million people who live in Finland get a pension in their own right. The number has grown by one third since 1990. At the same time, the earnings-related pension expenditure has tripled. In 2016, a total of 26 billion euros was paid in earnings-related pension and 2.5 billion euros in Kela pensions.

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.

Press releases
Melbour Mercer Global Pension Index -logo

Finland in top five in international pension comparison

The Finnish retirement income system ranked 5th in the international Melbourne Mercer Global Pension Index (MMGPI) comparison published today. For the fourth time in a row, Finland topped the integrity and transparency sub-indexes, but the country’s overall ranking fell by one notch.

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).