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Changes in our Customer Services

Our Customer Service answers your questions on pensions from abroad, insuring work abroad and taking out pension insurance, as well as general questions on earnings-related pensions, at one phone number. At the same time, our eService has expanded, and you can also contact us via Suomi.fi Messages.

Partial old-age pension continues to be popular

The Finnish Centre for Pensions projects that 10,000 new partial old-age pensions will be paid out in 2018. In practice, every tenth person who has turned 61 years will take out this pension early. The majority of those who have drawn the pension are middle-income men who continue working while drawing half of their earned […]

Flexible pension reforms inefficient

Most of Eu­ro­pe’s flexible pen­sion so­lu­tions have failed, argued Prof. Börsch-Su­pan at a research seminar at the Finnish Centre for Pensions in early September. Alt­hough the pen­sion re­forms car­ried out in nine OECD count­ries have rai­sed the emplo­y­ment rates of 55–64-year-olds, the num­ber of wor­king hours has gone down or stayed at the same level […]

Pension indicators in concise package

Pension Indicators offers a concise information package on the status and outlook of earnings-related pensions in Finland. This annually updated report has been compiled for the decision-makers and all interested in the outlook of pensions.

Unemployment still a major risk for elderly workforce

Although more than half of the Finnish and Dutch population who work in their mid-fifties manage to reach their retirement age, there are many trajectories out of the labour market. Reforms in the 2000s have contributed to longer working lives in both countries, but elderly women and low-educated workers continue to run a greater risk […]

The supervision of the self-employed based on 2017 tax data has begun 

The Finnish Centre for Pensions supervises that the self-employed meet their insurance obligation under the Self-employed Persons’ Pensions Act. If the value of the work input of the self-employed person exceeds the limit set in the Self-employed Persons’ Pensions Act (€7,645.25 in 2017), the self-employed has to take out pension insurance under the Act.

Pension rights to one million for degree studies

Graduates this spring have taken the total number of people who have accrued pension rights for degree studies in Finland to more than one million. Pension has been accrued for studies leading to a degree since 2005. However the greatest benefit in terms of building up the pension pot comes through job opportunities.

New old-age pensions clearly higher than old ones

Earnings-related pension payments in 2017 came to 27 billion euros, one billion more than in 2016. The increase is explained by the growing number of pensioners and the size of new old-age pensions. The average pension of new old-age pensioners was almost 1,800 euros, with the mean around 1,600 euros.

News

Number of working retirees growing slowly

At the end of 2016, roughly 70,000 persons aged between 63 and 67 years worked. Half of them were also retired. They count for 18 per cent of the population of this age group. Since 2007, the share of working retirees has grown by nearly four percentage points. In the 2010s, the growth has decelerated […]

Rakennustyömaa

More visibility to supervision through joint inspection visits

Together with the Tax Administration and the Regional State Administrative Agencies’ occupational safety and health authorities, the Finnish Centre for Pensions has supervised construction sites in Uusimaa already for several years. The inspection visits have been unannounced.

Nainen ajaa polkupyörällä

One third of over-16-year-olds get a pension

More than 1.4 million people who live in Finland get a pension in their own right. The number has grown by one third since 1990. At the same time, the earnings-related pension expenditure has tripled. In 2016, a total of 26 billion euros was paid in earnings-related pension and 2.5 billion euros in Kela pensions.

Euroopan komission ESDE 2017-konferenssissa

European Commission: An exemplary pension reform in Finland

The employment report of the European Commission calls Finland’s pension reform an embodiment of the solution to the pension problems of an ageing Europe. According to the Commission, the Finnish pension reform will extend working lives, curb pension expenditure and improve employment rates.

Partial old-age pension popular also in Sweden and Norway

Early retirement is particularly popular in Norway, where one third of those who have a right to take out an old-age pension do it early. Nine out of ten draw the pension in full as soon as it is possible. In Sweden, early retirement is popular because retired people have a right to get various […]

Press releases

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.

Growing Income and Consumption of Retirees

The status of retirees relative to the working-age population has clearly improved in the long run. Their income has grown and they consume more than ever. However, the retirees are not a homogenous group; inequality within the group has increased.

Retirement age will rise as planned

According to the projects made at the Finnish Centre for Pensions, the Government bill on the 2017 pension reform will lead to retirement at a later age and a higher employment rate. As working lives are extended, the pressure to increase the earnings-related pension contributions will be alleviated and the average pensions will rise.

Average Monthly Pension EUR 1,588

The average total monthly pension last year amounted to EUR 1,588. The data is based on preliminary statistics compiled by the Finnish Centre for Pensions and Kela for year-end 2014.

Improved Cooperation Between Rehabilitation Actors

Working lives could be extended by increasing the support of the rehabilitation of people with a partial working capacity. The situation is challenging, however, since the liability for the rehabilitation is divided between numerous actors.

Earnings-related Pension Reform Will Reach Its Goals

According to our projections at the Finnish Centre for Pensions, the 2017 pension reform will extend working lives, defer retirement and raise the average pension of future age cohorts on all educational levels. At the same time, the pressure to raise the earnings-related pension contributions will be reduced.

Clearly Rising Effective Retirement Age

According to statistics of the Finnish Centre for Pensions, the effective retirement age rose significantly in 2014. On average, the Finns retired on an earnings-related pension at age 61.2 years. The equivalent figure in 2013 was 60.9 years.

Finland Ranking High in International Pension Comparison

The Finnish pension system came fourth in the international Melbourne Mercer Global Pension Index comparison published today. The Finnish pension system was included in this comparison for the first time. Finland did particularly well in the sub-index of integrity, in which the overall governance of the system and its transparency were assessed.

Pension Financing Not Jeopardized by Weak Employment Outlook

“In 2013, employment fell while the pension expenditure rose relative to the income from work. Pension financing was not jeopardized, however, as pension contributions rose, pension assets increased and the investment returns were positive,” states Mikko Kautto, Director at the Finnish Centre for Pensions.