News and Press releases
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.
Great Britain and the European Union are negotiating on terms relating to Great Britain’s withdraw from the EU. We keep an eye on the situation. As soon as more information about the negotiations is available, we will inform our customers of how Brexit may affect them.
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.
The share of rejected applications for a disability pension by unemployed applicants has risen in one decade from 24 to 38 per cent. The share of rejections has grown more rapidly among the unemployed than the rest of the disability pension applicants.
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, […]
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 […]
The Ministry of Social Affairs and Health has set the life expectancy coefficient for 2019 at 0.95722.
The central labour market organisations have agreed on the private-sector earnings-related pension contributions for 2019. The average contribution will be 24.4 per cent of the gross monthly wage.
The working lives of men and women are almost equally long, but women still get lower old-age pensions than men. The problem lies in women’s lower wages and their work history. Extending working lives alone will not fix the gender gap in pensions, researchers at the Finnish Centre for Pensions argue.
The Finnish pension system is the third best in the world, according to the Mercer Global Pension Index out today. This is the first time Finland has been ranked among the world’s top three pension systems, and the fifth time that the Finnish system’s integrity rating is the highest in the world.
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 […]
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.
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.
The European Commission aims to improve the situation of people who, due to their employment status, are not sufficiently covered by social security schemes.
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.
The A1 certificate attests that your worker’s pension and other social security contributions are paid to Finland. The quickest way to get the A1 certificate is to apply for it online.
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.
A typical recipient of a partial old-age pension is a 61-year-old man with an average income from work in the private sector. The average partial old-age pension is an ample 800 euros per month. A review of the first year of this new pension type reveals that almost all applicants applied for a 50% share […]
Our updated booklets help you understand social insurance and earnings-related pensions in Finland, including the changes that came into force after the 2017 pension reform.
This spring, we will arrange a research seminar in English on the impact of pension communication and retirees’ income. In addition, we will arrange an international research conference in May on Gender Inequalities in Employment and Pensions.
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.
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.
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.
The Finnish pension scheme rose in ranking since last year, ending up fourth in the international Melbourne Mercer Global Pension Index (MMGPI) comparison published today. We outranked both Sweden and Switzerland. According to the comparison, our pension scheme tops the list in the sub-indexes of integrity and transparency.
The status of immigrants on the labour markets has improved considerably since the 1990s. Yet the differences between the diverse groups of immigrants are large. Female immigrants from the Middle East or Somalia have been employed for the least amount of time. Young male immigrants from Estonia have spent the most time in employment. This […]
A study by the Finnish Centre for Pensions looks for the first time extensively on the amount of time spent on a disability pension. The study covers the entire Finnish working-age population between the years 2005 and 2014.
In 2015, statutory earnings-related pensions were paid to the amount of 25.3 billion euros. The amount grew by an ample 800 million euros compared to 2014. The largest average pensions paid abroad were paid to Portugal. The pension gender gap is emphasized at both ends of the income spectrum.
Roughly one third of the Finnish population has saved for retirement. Although nearly 50 per cent of Finns assess their retirement income to be inadequate, saving has not increased in recent years. The reason is simple: people cannot afford to save for retirement.
Considerable shares of the above-45-year-olds who have been made redundant have been reemployed. Researchers from the University of Tampere and the University of Eastern Finland studied the employment trajectories of displaced 46–60-year-old workers for eight years.
The number of disability pensions granted due to mental disorders has been reduced by one third since 2008. Yet mental disorders continue to be the largest single reason for disability retirement.