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EUR 28.1 Billion in Pensions in 2014

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 […]

Growth in Working in Retirement Stalled

The number of 63-67-year-olds who worked nearly doubled in the years 2007-2013 when the baby boomers reached their retirement age. However, in 2013, the growth stalled: working in retirement has not increased, but working past the earliest eligibility age continues to do so.

Life Expectancy Coefficient Confirmed for 2016

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.

2016 Pension Provision Index Adjustments

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 […]

Finland near the top in International Comparison

The Finnish pension scheme ranked 6th in the international Melbourne Mercer Global Pension Index (MMGPI) comparison published today. Now in its seventh year, the MMGPI measured 25 pension schemes. The Finnish pension provision was included for the second time in the comparison. Last year, Finland ranked 4th.

Pension Freedom in Britain – Success or Disaster?

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 […]

Gender Gaps in Pensions Vary Greatly Within the EU

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.

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