Index development 1995–2017
As of 1996, the pensions of persons who have turned 65 have been adjusted according to the pensioner’s index. The index was renamed at the beginning of 2005 to the earnings-related pension index. The table compares the change in the earnings-related pension index in 1995–2017 to the development of certain other indices:
|Nominal increase, %||Real-term increase, %|
|Index of negotiated wages||58.7||14.5|
|Earnings-related pension index||48.0||6.8|
|Full national pension||48.0||6.8|
|Consumer price index||38.6||–|
The earnings-related pension index has risen nominally by 48.0 per cent and in real terms by 6.8 per cent during the reference period.
Thus, the real value of a pension adjusted with the earnings-related pension index has increased, while its relative purchasing power in relation to that of wage-earners has decreased. If the pension in 1995 corresponded to 60 per cent of the average income for wage earners, the proportion was 46.0 per cent in 2017.