“In 2013, employment fell while the pension expenditure rose relative to the income from work. Pension financing was not jeopardized, however, as pension contributions rose, pension assets increased and the investment returns were positive,” states Mikko Kautto, Director at the Finnish Centre for Pensions.
These conclusions are based on the newly published review Työeläkeindikaattorit (earnings-related pension indicators, available only in Finnish). The review, which compiles the key pension policy indicators, offers an overview of the development of the pension system.
Last year, the average retirement age remained unchanged. Thus, no progress was made towards the goal of the government and the labour market organisations to raise the average retirement age to 62.4 years within the next decade.
The average pension level continued to rise. The poor wage and employment trend was shown in the improvement of the relative position of pension recipients. The low-income risk of pension recipients was reduced year-on-year.
To the publication (pdf; available only in Finnish)
Mikko Kautto, Director, tel. +358 29 411 2185 and +358 040 740 8095, firstname.lastname(at)etk.fi
Heidi Nyman, Statistics Planner, tel. +358 29 411 2139, firstname.lastname(at)etk.fi