The primary task of pensions is to secure an income in retirement. Under this research programme, we will examine pension levels as well as pension benefits of population groups that are central to the improvement of pensions.  

Retirement often spans years and decades and includes different phases as far as income is concerned. During this research programme period, we will conduct individual-level longitudinal studies of changes in pensioners’ income levels and reconduct the questionnaire survey from 2017.  

We will assess livelihood adequacy primarily based on income. We will also review the livelihood of pensioners through consumption and subjective experiences relating to livelihood.  

Under this research programme, we will monitor the Finnish working-age population’s knowledge and views of pension adequacy, sustainability and key principles of the pension system.  


New studies

Most pensioners perceive it somewhat easy to make ends meet

Two of three pension recipients find it somewhat easy to cover everyday expenses. However, according to a fresh study by the Finnish Centre for Pensions, one in ten reported great financial strain.

According to the study, a great majority of retirees in Finland assessed their level of financial satisfaction as average or high in 2020. The share of pensioners experiencing difficulties making ends meet has decreased. 

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Pension Barometer: Employment-based immigration the most popular solution to strengthen pension financing

Every second Finn supports increasing employment-based immigration if our pension system is to be amended due to its financing. The Finns strongly oppose pension cuts. This is evident in the latest Pension Barometer conducted by the Finnish Centre for Pensions.

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Net income decreases at retirement by one fifth on average

On average, the net income of a person retiring from employment is 79 per cent of the net income during the active period. A new study by the Finnish Centre for Pensions shows that the change in net income at retirement has remained unchanged since the early 2000s. The pre-retirement labour market statuts significantly impacts the income change.

Median net income ratio of persons retiring from work and non-work and of all new retirees, % 

 Retiring from work Retiring from non-work All 
2002 79 118 89 
2007 80 113 86 
2012 78 125 83 
2017 79 113 87 

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Financial hardship in early life course affects economic well-being also in old age

Older Finns face currently less difficulties in making ends meet but have experienced financial hardship somewhat more frequently than people aged 55 and more in European countries on average. Financial hardship during earlier stages of the life course was related to less economic well-being also in old age, as were poor health, low education and lacking homeownership. This study is based on SHARE wave 7 survey data, which was for the first time collected in Finland in 2017 and enables internationally comparative analyses of the situation of people aged 55 and more.

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Voluntary saving increasingly popular – every second Finn saves for retirement

Saving for retirement is more prevalent among men and the 55–64-year-olds. Women and the unemployed state more often than others that they are financially unable to save. This is evident from a recent study by the Finnish Centre for Pensions.

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Study: Women worried about retirement income

Finns are worried about the retirement income of low-income retirees in particular. Retirees’ income gaps and the availability of reasonably-priced social and health services also cause concern. A recent study by the Finnish Centre for Pensions reveals that women are more worried about pension issues than men.

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Public defense of doctoral thesis: Pensioners’ income in retirement remains reasonable

The Finnish pension policy objectives have been mainly successful. Pensioners’ economic well-being does not drop dramatically at retirement, and the income of low-income people even improves slightly. After retirement, incomes remain fairly stable. However, for some retirees, poverty is long-lasting. This is evident in a doctoral dissertation by Juha Rantala for the Universit of Turku. The research is based on longitudinal register data.

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Majority of Finns unfamiliar with price tag of pensions

Only 13 per cent of the Finns know how much they pay in pension contributions. 29 per cent underestimate their pension contribution rate. These are results revealed in a new survey on pension knowledge conducted by the Finnish Centre for Pensions.

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