News

In Finland, employment among the 60–68-year-olds increased in all educational levels between 2006 and 2018. As a rule, educational inequalities in employment has narrowed, a study by the Finnish Centre for Pensions shows.

The Ministry of Social Affairs and Health has confirmed the 2023 indexes for earnings-related pensions. The earnings-related pension index will rise by 6.8 per cent and the wage coefficient by 3.8 per cent compared to 2022. Because of the exceptionally high increase in the earnings-related pension index, the timing of retirement matters if the plan is to retire at the turn of the year 2022-2023.

In addition to the long period of polar nights, anybody moving to Finland may be surprised by the bureaucracy relating to working here. The Finnish Centre for Pensions works alone and together with various actors to make social security matters understandable for people coming to Finland from abroad.

The impact of vocational rehabilitation could not be shown in the study which utilized preliminary decisions for vocational rehabilitation. Getting a preliminary decision did not have a clear impact on employment or earned income.

Because of an exceptionally high increase in the earnings-related pension index, the time of retirement matters if it occurs at the turn of the year 2022-2023. This has been taken into account in the form of age group limitations in the pension calculators on Tyoelake.fi. Compensatory information and examples are available on the website.

We offer personal service to our customers by appointment. In addition, the operating hours of our service number have changed. Our customer service phone number operates on Mondays, Wednesdays and Fridays from 9 a.m. to 3 p.m.

According to an estimate by the Finnish Centre for Pensions, the earnings-related pension index will grow clearly more than the wage coefficient at the beginning of 2023. As a result, a person who retires in 2022 will get a higher index increment than a person who retires after the turn of the year, in 2023. The Ministry of Social Affairs and Health will publish the earnings-related pension indexes at the end of October.

The Finnish Centre for Pensions has updated the booklet that contains information on how to claim a pension from abroad. The booklet is available in several languages. You can order printed booklets from the Finnish Centre for Pensions.

In 2021, a total of 30 billion euros were paid in earnings-related pensions. Old-age pensions accounted for nearly 90 per cent. The average monthly pension of those retiring on an earnings-related old-age pension in 2021 was 1,900 euros. On average, the monthly pensions of new female retirees were an ample 200 euros higher than of those who retired earlier.

The earnings-related pension field wants access not only to data on earnings but also to data on benefits in the Incomes Register when calculating pensions. That is why the Tax Administration Incomes Register Unit has been given the assignment to examine within the next few years whether an earnings basis can be added to the data content of the Incomes Register.