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Indicators of social security and growing workforce mobility

The adequacy of pensions gains in importance for the economic well-being of an ever-growing share of ageing Europeans. One of the keynote speakers, Rudi Van Dam (Chair of ISG), points out that the social security indicators have to be improved and made more multi-dimensional. The job is not easy, because the indicators are a politically […]

View the visualised money flows of earnings-related pensions

The pension assets of the earnings-related pension scheme decreased in 2018 by 6.1 billion euros, amounting to 196 billion euros at year-end. The last time the pension assets decreased was in 2011, as a result of the euro crisis. Examine the money flows with the visualisation of the earnings-related pension money flows.

Pro gradu -palkinnon voittanut Natalia Edelmann pitää kunniakirjaa kädessään puutarhassa.

Pro Gradu Award to Natalia Edelmann

Each year, the Finnish Centre for Pensions grants a Pro Gradu Award to a distinguished Master’s thesis. This year, the award was granted to a thesis from the Tampere University on rehabilitation within the earnings-related pension system. The author of the winning thesis, Natalia Edelmann, has a clear vision: she wants to prevent discontinued rehabilitations.

What do we expect of social security?

One of the most distinguished experts on social indicators, Rudi Van Dam (Chair of the Indicators Subgroup ISG) is one of the keynote speakers at Pension Adequacy in Europe – Today and Tomorrow. The conference, a side event of Finland’s EU presidency, is organised in Helsinki on 17 September 2019 by the Finnish Centre for […]

Naismyyjä seisoo kahvilan tiskin takana.

Number of underinsured self-employed persons continues to grow

207 000 self-employed persons were insured under the Self-employed Persons’ Pensions Act in 2018. Every fourth of them set their confirmed income, which forms the basis of their future pension and other social insurance, at or near the minimum requirement. Of the newly self-employed, two out of five underinsured themselves, statistics of the Finnish Centre […]

Research seminar in May: German pension reforms in a changing society

The generous German pension reforms have raised extensive discussions about the sustainability of the country’s pension system. Researcher Dina Frommert from Deutsche Rentenversicherung Bund explains the content of the recent reforms and the results of the life cycle research at our research seminar on 23 May.

News

Updated pension calculator takes earnings growth into account

The updated pension calculator takes into account the general growth in earnings in Finland, that is, the change in the average earnings of wage earners. Taking into account the growth in earnings makes the result more realistic. The pension calculator is available at Työeläke.fi, a website for the general public.

2018 Pro Gradu Award up for grabs

Each year, the Finnish Centre for Pensions grants a Pro Gradu Award of €2,000 to a quality Master’s thesis accepted at a Finnish university in the previous calendar year.

Slightly fewer rejected disability pension applications

According to statistics of the Finnish Centre for Pensions, the number of new disability pension decisions grew considerably in 2018. At the same time, the share of rejected disability pension applications dropped for the first time in a decade.

EU lippuja

Brexit may affect social security

The British MPs rejected Prime Minister Theresa May’s Brexit deal in a vote on 15 January 2019. This does not mean, however, that Britain will exit from the bloc immediately, with no deal. Together with the Ministry of Social Affairs and Health and other authorities, the Finnish Centre for Pensions monitors the situation.

Growing number of working retirees

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.

Press releases

Newly self-employed underinsure themselves

Two out of five newly self-employed set their confirmed income from self-employment (YEL income) at the lowest or nearly the lowest possible level. This is nearly twice as many compared to three years ago. Statistics from the Finnish Centre for Pensions shows that every fifth of all self-employed persons set their YEL income at the […]

Twice as many partial disability pension retirees in one decade

A growing number of earnings-related disability pensions are partial disability pensions. In 2017, nearly one third of all new retirees on a disability pension got a partial disability pension. A typical retiree on a partial disability pension is a middle-aged woman who works in the public sector.

Average Monthly Pension EUR 1,656

The average monthly pension in 2017 in Finland was 1,656 euros, which is 20 euros more than in 2016. The median pension was 1,434 euros per month, or 30 euros more than in 2016.

Effective retirement age slightly higher in 2017

According to statistics of the Finnish Centre for Pensions, people in Finland retired on an old-age pension at age 61.2 years on average in 2017. This is about one month later than in 2016. The number of new retirees was 75,000 persons, of whom three out of four retired on an old-age pension.

Pension scandal triggers pension reform in Sweden

At least two premium pension funds are suspected of having defrauded Swedish pension savers of more than 100 million euros.  A reform of premium pension acts, set to come into effect in July 2018, helps Swedes retain their trust in the pension system.