News and Press releases

All
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.

Men aged 42 highest earners in Finland

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.

Comparison of earnings-related pension investors speaks of fluctuating returns

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, […]

Unique comparison of investment returns

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 […]

News

Research Conference Addressed Concern for Women’s Pensions

Nearly one hundred experts gathered at the international research conference of the Finnish Centre for Pensions on 18 May 2018 to look for solutions to narrow the gap between men’s and women’s pensions. The solutions to improved pensions for women lie in working lives, wage levels and family policy.

European Commission: European women get 40% lower pensions than men

The largest gender gaps are found on Cyprus and in the Netherlands, where women’s pensions are about half of men’s. The gap is the narrowest in Estonia. Finland is clearly more equal than the average EU countries: women’s pensions are 24 per cent lower than men’s in Finland. The data is from the European Commissions’ […]

Gender gap in pensions paid abroad

Female retirees who live abroad get much smaller pensions from Finland than male retirees. For example, male retirees living in Portugal got €4,890 per month on average, while female retirees got €1,750. Women’s lower pensions are partly explained by the fact that many of the women have moved abroad at a young age and have […]

Working for equality

The gender gap in pensions in the EU countries is alarmingly wide, says Italian researcher Francesca Bettio. The attempts to solve this problem come with downsides.

No easy way to bridge gender gap in pensions

The Nordic countries are famous for their gender equality. Nevertheless, women’s pensions lag behind men’s even here. A research conference to be held in May at the Finnish Centre for Pensions in Helsinki seeks for solutions to this problem. Senior Researcher Kati Kuitto tells us not to expect easy solutions.

Kuvituskuva: Isoisä ja lapsenlapsi rakentavat yhdessä

More than €630 billion in pension entitlements in Finland

The pension entitlements of the earnings-related pension system were approximately 632 billion euros at year-end 2015.  Pension entitlements means the amount of money that is enough to pay for the pensions that have already accrued.  Slightly less than one third of the pension entitlements in Finland have been funded in advance, according to Statistics Finland.

Samsungin älypuhelin kädessä

One Customer Service as of 1 March

We are merging our separate customer services for insurance of work abroad, international pension applications, self-employed persons and pension advice into one multichannel customer service.

Press releases

One third of partial old-age pension retirees not working

The partial old-age pension, a new pension type introduced at the turn of the year, has turned out to be more popular than expected. A recent questionnaire survey conducted on behalf of the Finnish Centre for Pensions reveals that every third person who gets a partial old-age pension is not working.

’I will also get a pension’: Campaign simplifies pension information

The Finnish Centre for Pensions has launched a campaign in which it tells about earnings-related pensions in a simple and easy-to-understand way. The Facebook site includes, among other things, a pension calculator that tells you what your retirement age is and gives you an idea of how much pension you will get.

Pension gap between men and women: €600 on average

In 2016, €26 billion were paid in earnings-related pensions in Finland. That is an increase of €700 million compared to the previous year. A record-high 57,000 persons retired on an earnings-related old-age pension last year. Although the gap between men’s and women’s pensions has narrowed, it is still considerable.

Average monthly pension €1,632

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).

Brochure recipients knew more about the pension reform

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.

No changes to effective retirement age

According to the statistics of the Finnish Centre for Pensions, people in Finland retired on an old-age pension in 2016 at age 61.1 years on average. The effective retirement age was the same as in 2015. The number of new retirees rose to 76,000 persons, of whom 75% retired on an old-age pension.

Pensioners’ economic welfare continues to improve

Pensioners in Finland have enjoyed improving economic welfare in the past 20 years. This conclusion comes out of a broad investigation by the Finnish Centre for Pensions (ETK) into the development of pensions and pensioners’ economic welfare in 1995–2015. The assessment used a wide range of indicators, including pension income, household disposable income, consumption, assets […]

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.