Pension accruals for different age groups
Based on the register data of the Finnish Centre for Pensions, we can estimate the pensions accrued by different age groups of employees covered by earnings-related pension insurance. Employees start accruing pensions at the age of 17 and self-employed persons at the age of 18, with pensions being calculated based on annual earnings. Before 2005, pension accrual started at the age of 23. In general, older age groups have accumulated more pension due to longer working lives.
The figures presented on this page are register-based estimates of the average earnings-related pension accruals of people living in Finland at the end of 2023. These figures do not include those who receive a pension based on their own career, such as old-age pension, partial old-age pension or disability pension. The accruals consider the effect of the life expectancy coefficient.
Estimated average earnings-related pension accruals for people living in Finland, by gender, as at 31 December 2023, €/month
For example, by the end of 2023, employees covered by earnings-related pension insurance who were 40 years old had accrued an average monthly pension of 642 euros. For those aged 50, the average monthly pension accrual was 1,100 euros, and for those aged 60, it was 1,669 euros per month.
Men and women under 30 have generally accrued similar amounts of earnings-related pensions. In older age groups, men tend to have higher pension accruals than women. At the end of 2023, the average pension accrued by 40-year-old women was 84 per cent of that of men of the same age. For 50-year-olds, the ratio was 76 per cent, and for 60-year-olds, it was 78 per cent.
Individuals can check how much earnings-related pension they have accrued on their pension record.
Estimated average earnings-related pension accruals for people living in Finland, by gender, as at 31 December 2023, €/month
| Age | Men | Women | All |
|---|---|---|---|
| 17 | 3 | 2 | 2 |
| 18 | 8 | 7 | 7 |
| 19 | 20 | 18 | 19 |
| 20 | 30 | 31 | 31 |
| 21 | 45 | 45 | 45 |
| 22 | 63 | 62 | 62 |
| 23 | 85 | 82 | 84 |
| 24 | 109 | 105 | 107 |
| 25 | 133 | 129 | 131 |
| 26 | 163 | 156 | 160 |
| 27 | 193 | 184 | 189 |
| 28 | 223 | 214 | 218 |
| 29 | 255 | 245 | 250 |
| 30 | 289 | 274 | 282 |
| 31 | 324 | 302 | 313 |
| 32 | 361 | 332 | 347 |
| 33 | 398 | 359 | 379 |
| 34 | 439 | 392 | 417 |
| 35 | 479 | 428 | 454 |
| 36 | 525 | 456 | 492 |
| 37 | 568 | 493 | 532 |
| 38 | 609 | 522 | 567 |
| 39 | 656 | 550 | 605 |
| 40 | 696 | 584 | 642 |
| 41 | 739 | 613 | 679 |
| 42 | 781 | 647 | 716 |
| 43 | 836 | 678 | 760 |
| 44 | 901 | 726 | 816 |
| 45 | 962 | 760 | 864 |
| 46 | 1,035 | 810 | 925 |
| 47 | 1,098 | 851 | 978 |
| 48 | 1,160 | 886 | 1,028 |
| 49 | 1,209 | 924 | 1,069 |
| 50 | 1,247 | 946 | 1,100 |
| 51 | 1,302 | 980 | 1,145 |
| 52 | 1,362 | 1,020 | 1,192 |
| 53 | 1,399 | 1,063 | 1,232 |
| 54 | 1,473 | 1,102 | 1,290 |
| 55 | 1,518 | 1,163 | 1,341 |
| 56 | 1,584 | 1,231 | 1,407 |
| 57 | 1,653 | 1,297 | 1,474 |
| 58 | 1,723 | 1,353 | 1,536 |
| 59 | 1,793 | 1,418 | 1,604 |
| 60 | 1,878 | 1,465 | 1,669 |
| 61 | 1,901 | 1,512 | 1,697 |
| 62 | 1,960 | 1,544 | 1,738 |
| 63 | 1,974 | 1,581 | 1,763 |
Additional key figures on the accrual of earnings-related pensions are presented in the attached Excel file, which includes not only averages but also the median and the upper and lower quartiles of the distribution.
Read more on Etk.fi:
- Estimates of the accrual of earnings-related pensions for different age groups at the end of 2023: average, median, and upper and lower quartiles by gender (Excel)
- Persons insured for an earnings-related pension in Finland
Read more elsewhere:
