Pension Barometer: Six Out of Ten Finns Trust the Pension System

According to a recent questionnaire survey, pensioners trust the pension system the most while the self-employed trust it the least. Finnish citizens know more about pensions now than before.

Nearly six out of ten Finns trust the pension system according to the pension barometer conducted by the Finnish Centre for Pensions. The annual questionnaire survey measures how Finns relate to pensions and pension-related issues.

People aged 65 and above trust the pension system the most. Around 82 per cent of the pensioners find the pension system to be fully or partially reliable.

One quarter of the Finns have only little or no trust in the pension system. The self-employed are particularly critical of pensions: nearly half of them have no or hardly any trust in the pension system.

Pension knowledge improved slightly

According to the pension barometer, every tenth Finn feels that they know pensions very well. An additional quarter of the Finns find that they know pensions fairly well.

The share of those who feel they know pensions well has risen by five percentage points since last year. At the same time, the share of those who have little or no knowledge of pensions has decreased.

The majority (79%) of Finns believe they know enough about pensions for their own needs. The development has been positive also in this respect: the share is up by seven percentage points compared to in 2017. Only 19 per cent feel that they do not know enough about pensions.

The pensioners stand out also in this respect. They feel they have enough information about pensions.

Equal pension rules and outlook for all

Director Mikko Kautto (Finnish Centre for Pensions) is pleased about the growing knowledge of pensions.

“We have taken a step in the right direction when four out of five feel that they know pensions enough while the share of those who have little or no knowledge has been reduced,” says Kautto.

The difference in attitude towards pensions of the self-employed and others stands out, according to Kautto. The self-employed believe more often than others that the pension levels are not high enough and that pensions are not sustainably financed.

“Since the pension rules and outlook are the same for all, I suspect the difference lies in differing expectations. The fact that the self-employed are responsible for the entire pension contribution may also have its impact,” Kautto argues.

The pension barometer of the Finnish Centre for Pensions was conducted by Kantar TNS Oy. The interviews were conducted by phone in May 2018 with 1,004 respondents (Finnish citizens) aged between 15 and 79 years. The margin of error is circa 3 percentage points.

More information

Mikko Kautto, Director, phone +359 29 411 2185, mikko.kautto(at)
Susan Kuivalainen, Head of Research, phone +358 29 411 2184, susan.kuivalainen(at)