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International Top Conference on Working Life and Pensions in May

In which ways do flexible labour markets and subsequent life-course effects challenge pension provision and how do pension systems around the world respond to such challenges? Keynote speakers at the conference include, among others, Anna D’Addio (OECD) and Joakim Palme (Uppsala University). The conference will be held at the Finnish Centre for Pensions on 19 […]

Pension reform takes effect at turn of the year

Finnish earnings-related pensions have been reformed. The reform will take effect on 1.1.2017. Pension accrual rates will change immediately.  The first new partial old-age pensions can be granted as of February 2017.  In practice, the retirement age will rise in 2018. It will be possible to apply for the new years-of-service pension at the end […]

Soft methods to extend working lives

Improving management practices and work engagement, as well as offering personnel training, significantly affect the stability and length of working lives. These soft methods are just as effective as preventing various threats and obstacles, as concluded in a new collection of studies titled Working conditions and working lives.

How much is enough?

Two years’ wage sum, or seven years’ pension expenditure – that is how much pension funds amount to right now in the world’s #4 pension system (MMGPI). Sounds like much, but relative to the future need it isn’t.

Finnish pension contributions on an average European level

Relative to GDP, the pension contribution level is the highest in Denmark and the lowest in Sweden. Finland stands out with high employer contributions and lower-than-average employee’s contributions. This is evident from the Finnish Centre for Pensions’ comparison.

News

Pensions Changing Course in Europe

The pension provision in Europe is being overrun by economic policy and free competition, argues Wolfgang Schultz-Weidner, an EU pension lobbyist. The EU would like to increasingly regulate the pension provision of its Member States as pension assets form a considerable part of public finances in many EU countries. Finland is an exception.

Declined Trust in Pension Provision Among Citizens

The trust of Finnish citizens in the adequacy and fairness of pension provision has clearly declined. According to the Trust in Pension provision survey conducted by the Finnish Centre for Pensions, only half of the citizens believe that the pension guarantees a reasonable income in old age, and even less trusted in the adequacy of […]

Rising Retirement Ages in the Public Sector

The pension negotiations led by the Ministry of Social Affairs and Health concerning the employees of local governments, the State, the Church and Kela have been concluded. The public-sector pension reform follows the agreed pension reform for the private sector.

Years-of-service Pension: Rare Arrangement in Europe

Pension types similar to the years-of-service pension that will be introduced in the forthcoming pension reform in Finland can be found in five European countries. In many respects, the criteria for the pension are similar, but there are also differences. Finland will be a forerunner when it comes to measuring the mental strain of work.

Successful Senior Programme Meets the Challenge Posed by Rising Retirement Ages

The retirement ages will rise considerably in the near future. Most EU Member States have linked the retirement age to life expectancy. As people will have to work longer, increasing attention has to be paid to the working capacity of elderly employees. Oras Group is a forerunner in this area with its senior programme.

Solvency Rules of Earnings-related Pension Providers to be Reformed

The regulations about the calculation of the solvency limit of earnings-related pension providers and the decentralisation of investments will be reformed. The acts will come into force as of the beginning of 2017. In the calculation of the solvency, essential investment risks will be taken into account more comprehensively than currently.

Working Does Not Extend Periods of Study

Working while studying does not affect the employment of young people after graduation. In general, young graduates attach to the labour markets well. In addition, working while studying does not significantly extend the period of study.

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