Part-time pensions no longer granted
The part-time pension will be abolished from the earnings-related pension scheme. The last part-time pensions began on 1.1.2017. Previously granted part-time pensions will continue to be paid out. They will follow the rules valid before 2017. The part-time pension was replaced by the partial old-age pension in connection with the 2017 pension reform.
A person could retire on a part-time pension at the age of 61, providing their working life before retirement was long enough. They had to cut down on their working hours, and their income had to be reduced to 35-70 per cent of their stabilised earnings for full-time work.
The amount of the part-time pension is 50 per cent of the difference between the full-time and part-time earnings (earnings reduction) but, at most, 75 per cent of the old-age pension accrued up to the start of the part-time pension.
In 2016, the number of new retirees on a part-time pension was 4,900, which is 1 200 more than in the previous year. The part-time pension expenditure in 2016 amounted less than one per cent of the total earnings-related pension expenditure of that year.