The self-employed concerned about the government reform proposal
The forthcoming reform of the Self-employed Persons’ Pensions Act (YEL) has caused fierce debate among the self-employed, particularly on social media.
Press releases
Cross-national comparison of pension costs reveals: Lowest contribution levels in Sweden and Finland
The Finnish Centre for Pensions compared pension contribution levels in eight European countries. Pensions cost the least in Sweden and Finland, just over 12 per cent relative to GDP. The highest price tag on pensions is found in Italy and Denmark. Employers pay the main part of pension contributions in all other countries except Denmark.
Long-term projections: Pension financing relies increasingly on investment returns
The long-term pension financing outlook has improved considerably due to favourable investment returns. At the same time, uncertainty about future contribution rates has grown. If the birth rate remains low, an increasing share of rising pension expenditure will have to be covered by returns on pension assets.
International pension comparison: Finland back in the top five
This year, Finland ranked fifth in the international Global Pension Index comparison. Finland’s ranking improved by two places from last year when the comparison’s calculation method was changed. Once again, the Finnish pension system was ranked the most transparent and reliable pension system in the world.
New measures required for sustainable pension financing
The expected effective retirement age has risen more rapidly than expected. Yet the lower-than-projected birth rates and work-related immigration call for new measures to achieve sustainable long-term pension financing.
A majority of employers find workers older than 55 to be more reliable and independent than the average worker
Around half of the employers assessed that the problem-solving ability as well as knowledge and skills of workers older than 55 are better than of the average worker, a fresh study by the Finnish Centre for Pensions reveals.
Most old-age pensioners find their financial situation to have remained good – one fifth experience long-term financial difficulties
A study by the Finnish Centre for Pensions shows that most pensioners perceive their financial situation to have remained favourable between 2017 and 2020. Yet one fifth of the old-age pensioners experience long-term financial difficulties.
Working until retirement increasingly common in Finland – unemployment just before retirement halved among the low-educated
Finns continue working until retirement on an old-age pension clearly more often than before. Retirement from work became more prevalent in all socio-economic groups in 2006–2017, but particularly so among the low-educated. This is evident from a fresh study by the Finnish Centre for Pensions.
Immigration still the most popular solution to strengthen pension financing; one third would raise pension contributions
An ample 60 per cent of Finns find employment-based immigration to be a good means to strengthen pension financing.Raising pension contributions is the second most popular solution. An ample one third is in favour of this alternative. Only one quarter of Finns are in favour of pension investors increasing risk taking to increase pension assets. …
Europeans exit the labour markets at an increasingly later age – educational gaps still visible in continued working
In all European countries, people continue working longer than before. Yet the low-educated exit the labour market earlier than the high-educated. In Finland, the effective exit age, that is, the age at which people leave the labour market, has increased relatively much.