News and Press releases
Urban-dwelling males aged 61 are the most likely to take a partial old-age pension. A recent study by the Finnish Centre for Pensions indicates that the self-employed and unemployed are more likely to take payment of the pension than wage earners.
One in ten 63-67-year-old retirees works. The number has grown slightly year-on-year. The majority of work done in retirement is irregular and part-time work. The working retirees have, on average, higher earnings-related pensions than others of the same age.
Great Britain and the European Union are negotiating on terms relating to Great Britain’s withdraw from the EU. We keep an eye on the situation. As soon as more information about the negotiations is available, we will inform our customers of how Brexit may affect them.
Employees’ average monthly insured earnings in Finland are just over 2,800 euros. Women’s average earnings are 800 euros less than men’s. Earnings peak between ages 40 and 50.
The share of rejected applications for a disability pension by unemployed applicants has risen in one decade from 24 to 38 per cent. The share of rejections has grown more rapidly among the unemployed than the rest of the disability pension applicants.
The exceptional investment strategy of the Danish ATP pension fund proved to be the most successful over the 10-year review period, despite the low returns in recent years. An international comparison of investment returns shows that, in recent years, the returns of the Finnish earnings-related pension insurance companies have been favourable. In the long run, […]
An international comparison of investment returns shows that, in recent years, the returns of the Finnish earnings-related pension insurance companies have been favourable. In the long run, however, they lag behind. The comparison covers the major Finnish earnings-related pension providers, as well as large investors from northern Europe and North America. Read more about the comparison […]
The Ministry of Social Affairs and Health has set the life expectancy coefficient for 2019 at 0.95722.
The central labour market organisations have agreed on the private-sector earnings-related pension contributions for 2019. The average contribution will be 24.4 per cent of the gross monthly wage.
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.
International House Helsinki (IHH) provides most of the services that immigrants need when they move to Finland under one roof. Starting 4 December, customer service is provided at the premises of the Local Register Office of Uusimaa in Albertinkatu in Helsinki.
The Ministry of Social Affairs and Health has confirmed the life expectancy coefficient for 2018 to be 0.96102.
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 […]
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.
The pension indicators offer a concise information package on the status and outlook of pensions in Finland.
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.
The central labour market organisations have agreed on the private sector earnings-related pension contributions for 2018. On average, the contribution will be 24.4 per cent of the gross wage.
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.
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 […]
Pension Freedom, introduced in 2015, gives all British citizens aged 55 or more the freedom to do what they want with their pension savings. How well have the British managed this freedom?
Starting this August, it will no longer be necessary for Finnish companies to pay the 24 per cent pension contribution for every Finnish employee posted to India. The social security agreement between Finland and India eliminates the need for double pension insurance.
It is estimated that the social insurance contributions for thousands of persons working in both Finland and Estonia are incorrectly paid to two countries. According to EU regulations, an individual can be insured in only one country at a time. It is the duty of the employer to pay the insurance contributions to the correct […]
The average total monthly pension in 2013 was EUR 1,549. The data is based on statistics for year-end 2013 compiled by the Finnish Centre for Pensions and Kela.
On the whole, the various groups of wage earners receive pension at the same ratio of working lives to earnings. Time spent in retirement also accumulates at virtually the same level for wage earners and clerical employees when comparing men and women separately. Gender differences are greater than the differences between socioeconomic groups.
According to statistics published by the Finnish Centre for Pensions, the expected effective retirement age remained on the same level in 2013 as in 2012. On average, the Finns retired on an earnings-related pension at age 60.9.