News and Press releases
More than one of three newly self-employed workers set their confirmed income that forms the basis for their pension at or near the minimum level in 2016. The share has grown by 13 percentage points in two years, according to statistics from the Finnish Centre for Pensions.
Most retirees in Russia have to work since their pensions are too small for them to get by on. The faith in the pension system has crumbled among the young. A study shows that up to 76% of 18-49-year-olds believe that they cannot afford to stop working.
The future survivors’ pension scheme could be simpler in the future and the conditions for the children could be improved. The surviving spouse’s pension could be a fixed-term benefit. These are some of the suggestions presented by the Ministry of Social Affairs and Health’s working group on survivors’ pensions.
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).
An exceptionally difficult investment environment and a weak economic outlook create pressure to temporarily raise the earnings-related pension contribution. The pressure will arise long-term if the birth rate remains low in Finland.
On 22 March 2017, the Board of Directors at the Finnish Centre for Pensions has elected Heli Backman (LL.M.) as director as of 1 January 2018. Backman will begin working at the Finnish Centre for Pensions in mid-August 2017. Her predecessor, Riitta Korpiluoma, will work as the director of the legal line until the end of 2017. After […]
It’s worth coming to work at the Finnish Centre for Pensions from further away. Jan Helmdag from Greifswald, Germany, arrived for a two-week research period at the end of February.
A typical partial early old-age pension recipient is a 61-year-old man who withdraws half of his pension early. The Finnish Centre for Pensions’ monthly statistics for February reveal that a fifth of those benefiting from the new type of pension are self-employed, and three out of four are working or have last worked in the […]
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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.
How will the basic income, if introduced, affect the financing of earnings-related pensions? Will it affect the willingness of low-income people to pay pension contributions? Can the basic income solve the problems of social security?
The ministry of Social Affairs and Health has confirmed the private-sector earnings-related contribution for 2016 at 24 per cent. The contribution is thus the same as in 2015.
The most recent edition of The Statistical Yearbook of Finland shows that a total of EUR 28.1 billion was paid in pensions in 2014. This accounts for 43% of the social expenditure and 14% relative to GDP. The statistics offers comprehensive information on all pension recipients and new retirees within the earnings-related and the national […]
The life expectancy coefficient, confirmed by the Ministry of Social Affairs and Health, will be 0.96800 in 2016. The coefficient will reduce the old-age pensions under the earnings-related pension acts by 3.2 per cent for people born in 1954 whose pensions will start in 2016 or later.
The Ministry of Social Affairs and Health has confirmed the indexes for earnings-related pension provision for the year 2016. The wage coefficient will rise by 0.73 per cent from the 2015 level. The earnings-related pension index will remain on the 2015 level, so there will be no changes to the earnings-related pensions in payment next […]
Experience rating has no impact on the number of sickness allowance periods or pensions based on disability. This is evident in a study based on extensive register data on private sector employers and employees.
The largest gender gap in pensions are to be found in the Netherlands, where the difference between male and female pensions is almost 50 per cent. The gender imbalance is the smallest in Estonia. Finland is in the middle category compared to other Member States.
Read more about what experts have to say about the latest pension reform in Britain in the most recent English Summary in the 50-year jubilee issue of Työeläkelehti (4:2015), published on 5 October 2015. The Summary also includes accounts of how Finnish retirees consume, how the pensions for seafarer will be affected by a reform of […]
The legislative and political projects of the European Commission affect the earnings-related pension system in many ways. The updated review by the Finnish Centre for Pensions specifies the most significant EU projects relating to pensions and the related preparatory work.
The confirmed income from work of the self-employed is too often below the actual income. The self-employed should not underestimate their work input in fear of the contributions. If the confirmed income from work is low, it also affects the amounts of the sickness allowance and the parental allowance, both of which are determined based […]
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