New pension benefits

Largest group of partial old-age pension recipients consists of the 62-year-olds

At year-end 2018, a total of 18,700 persons received a partial old-age pension. The majority of them (10,800) were men. The largest group of recipients (8,200) were the 62-year-olds (born in 1956).

Nearly 90 per cent of those who have taken out payment of the old-age pension have chosen to take out 50 per cent of their earned pension pot. On average, their monthly partial old-age pension was 790 euros (median: €710). Around 2,300 persons took out 25 per cent of their earned pension pot. They got an average monthly pension of 420 euros (median: €380).

The size distribution of the pension is strongly skewed both in terms of gender and age. Men who took out 50 per cent of their pension pot were paid an average monthly pension of 880 euros while women got only 660 euros. The older the pension recipient, the larger the partial old-age pension was. The average monthly partial old-age pension (at 50%) of men aged between 63 and 68 and women aged between 65 and 68 exceeded 900 euros.

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Years-of-service pension granted to 27 persons

The years-of-service pension was introduced in the 2017 pension reform. The pension can be granted to individuals who were born in 1955 or after, have done work that requires great mental or physical effort for at least 38 years, and whose ability to work has been reduced.

The first years-of-service pensions began in the spring of 2018.

Situation on 31 December 2018

Issued decisions 76:

27 applicants have been granted a years-of-service pension:

  • 21 starting pensions in 2018. One of the recipients was female.
  • 6 persons have got a positive preliminary decision. The pensions will begin in 2019.
  • 5 recipients are still paid the pension.
  • 16 years-of-service pensions have ended.

12 applicants have been granted an old-age pension.

6 applicants have been granted a full disability pension.

31 applications have been rejected:

  • 16 rejections: The work done has not required enough physical or mental effort.
  • 13 rejections: No such work that is required to get the pension, or other legal reason.
  • 2 rejections: Other reasons.
  • Two of the rejected applications have been issued a preliminary decision for a partial disability pension.

The average monthly years-of-service pension in 2018 was 1,978 euros.

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Statistical services provides further information:

 

OUR EXPERT IN THIS AREA: JARI KANNISTO