As of 1996, the pensions of persons who have turned 65 have been adjusted according to the pensioner’s index. The index was renamed at the beginning of 2005 to the earnings-related pension index. The table compares the change in the earnings-related pension index in 1995–2017 to the development of certain other indices:
|Nominal increase, %||Real-term increase, %|
|Index of negotiated wages||58.7||14.5|
|Earnings-related pension index||48.0||6.8|
|Full national pension||48.0||6.8|
|Consumer price index||38.6||–|
The earnings-related pension index has risen nominally by 48.0 per cent and in real terms by 6.8 per cent during the reference period.
Thus, the real value of a pension adjusted with the earnings-related pension index has increased, while its relative purchasing power in relation to that of wage-earners has decreased. If the pension in 1995 corresponded to 60 per cent of the average income for wage earners, the proportion was 46.0 per cent in 2017.