News

The Finnish Centre for Pensions estimates that the 2024 earnings-related pension index will grow slightly more than the wage coefficient. As a result, a person who retires on an earnings-related pension before the end of 2023 may receive a slightly higher index increment than a person who retires after the turn of the year. A person who considers claiming a pension should also note the impact of continued work, taxation and Kela benefits on their pension amount.

Sweden proposes that the sharing of electronic information about social security related issues be enhanced and streamlined. Further cooperation would increase cost effectiveness and better protect the social security rights of people moving between the Nordic countries.

Some EU Member States have signed a framework agreement on cross-border telework. It will enter into force on 1 July 2023. Finland has signed the Agreement. According to the Framework Agreement, an employee habitually working and teleworking in two different EU countries can be insured, under certain conditions, in the country where the statutory seat of their employer is established (instead of in their own country of residence).

Approximately 71,500 people in Finland retired on an earnings-related pension in 2022. This is 10 000 more than in the previous year. Most of the increase came from people retiring on a full old-age pension. Almost 28 billion euros were paid in old-age pensions in Finland in 2022.

In Finland, employers’ views on the appropriate retirement age, that is, their retirement age norms, are higher than in European countries on average. Overall, employers have higher retirement age norms than employees in most countries. This is evident in a fresh study by the Finnish Centre for Pensions.

The Pro Gradu Award of the Finnish Centre for Pensions has been granted this year to Master of Business Administration Ozan Yanar. In his master’s thesis, he has examined the 2011 guarantee pension reform. Each year, the Finnish Centre for Pensions grants a Pro Gradu Award to a distinguished master’s thesis.

Occupational class inequalities in physical functioning (PF) increased after old-age retirement and decreased after disability retirement. In a study by the University of Helsinki and the Finnish Centre for Pensions, we have reviewed for the first time how PF has developed after old-age and disability retirement.

The new Suomi.fi guide ‘Death of a close family member’ guides you through the difficult process step by step. The Finnish Centre for Pensions has contributed to the content of the guide. The Suomi.fi web service is provided by the Digital and Population Data Services Agency.

Last year, nearly 35,000 persons drew the partial old-age pension for the first time. This is more than ever before. A substantial number of well-off people chose to start drawing a partial old-age pension last year. As a rule, the pension is drawn at a 50-per-cent level, which translates into an average of 830 euros per month.

The intended retirement age has increased in Finland at the same pace as the retirement age after the 2017 pension reform. In many other countries, retirement intentions have remained virtually unchanged despite pension reforms.