Topical issues

The average nominal return of the pension funds included in our comparison was more than eight per cent in the negative in 2022. The real return is even weaker since inflation pushed losses deeper in the red in all countries. The average real return was nearly –15 per cent. However, Finnish earnings-related pension investors performed above average.

The intended retirement age has increased in Finland at the same pace as the retirement age after the 2017 pension reform. In many other countries, retirement intentions have remained virtually unchanged despite pension reforms.

At the end of 2022, the Finnish Centre for Pensions issued instructions on when to apply for the A1 certificate for work abroad. Now we have specified the instructions for short conference and business trips.

Atypical employment relationships and employment interruptions are more common among today’s youth in EU countries than among older generations. According to a recent international study, current pension systems do not fully consider these non-continuous and atypical careers. Themes of this study are discussed at the webinar of the Finnish Centre for Pensions on Monday 8 May 2023 at 14.00–16.00 (EEST)/ 13.00–15.00 (CEST). The webinar is in English.

Atypical employment relationships and employment interruptions are more common among today’s youth in EU countries than among older generations. According to a recent international study, current pension systems do not fully consider these non-continuous and atypical careers.

The total pension expenditure in 2022 was 35 billion euros. Every third person in Finland who has turned 16 years received a pension.

Sami Salmi (Bachelor of Business Information Technology) has been appointed Head of Information Management at the Finnish Centre for Pensions as of 2 May 2023.

The assets of the Finnish earnings-related pension system shrunk by 16 billion euros in 2022. Investment losses counted for the main part of the loss. Insurance contribution income increased by nearly two billion euros.

The number of new disability pensions granted due to musculoskeletal diseases grew by nearly 10 per cent in 2022. A growing share of new pensioners on a disability pension are 60 years or over.

In recent years, retirement ages have been raised in Finland and Estonia and many other countries. However, in France, the attempts to raise retirement ages have met opposition. Raising retirement ages and the resulting effects are discussed at the webinar of the Finnish Centre for Pensions on Monday 27 March 2023 at 14.30–16.00 (EEST)/ 13.30–15.00 (CEST). The webinar is in English.