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Pension Indicators 2018

The Replacement Rate

The pension replacement rate is defined as depicting the earnings-related pension percentage share of the earnings level before retirement of a person who has retired on an earnings-related pension. The earnings-related pension includes all pensions in one’s own right paid as earnings-related pensions. The earnings level has been determined two and three years before the pension contingency year, based on earnings received. The replacement rate for wage earners was slightly lower than that of the self-employed. The divergence was also smaller than for the self-employed. In 2017, the replacement rate of the wage earners was 58 per cent on average and the median was 57 per cent.

Pension Indicators 2018

The income satisfaction paradox among pensioners in Europe

Pension System in Graphs and Figures

Download the slideshow or use it via SlideShare. Earnings-related Pension System in Graphs and Figures includes key information of the Finnish earnings-related pension system.


The working lives of men and women are almost equally long, but women still get lower old-age pensions than men. The problem lies in women’s lower wages and their work history. Extending working lives alone will not fix the gender gap in pensions, researchers at the Finnish Centre for Pensions argue.