Press releases

The majority of older workers defer retirement and continue working in pace with the rising retirement age. Last year, around 45,000 Finnish citizens retired on an old-age pension.

The Finnish pension system ranked fifth in the international Global Pension Index comparison published today. Finland dropped one notch as Israel surprisingly took a spot among the top 3. For the seventh time in a row, Finland’s pension system was ranked the most transparent and reliable pension system in the world.   The Mercer CFA Institute …

The trust in the pension system is low among the self-employed. The system needs to be reformed.

By year-end 2019, a total of 930,000 Finns had accrued pension for periods of child care. The figures are revealed in the advance notice of the statistics of the Finnish Centre for Pensions.

The trust in the pension grew last year. If the financial sustainability of the pension system had to be improved, the most accepted measure would still be to raise the pension contributions. Only every third would accept rising retirement ages. The corona crisis has had only a slight impact on the opinions.

A recent study published by the Finnish Centre for Pensions reveals that the self-employed often both feel that they have and actually have underinsured themselves. The self-employed feel they cannot afford to pay higher contributions and many lack trust in the pension system.

Of the self-employed, 57 per cent feel that they pay adequate pension contributions, while 43 per cent feel they have underinsured themselves. A recent study by the Finnish Centre for Pensions shows that the majority of the self-employed pay low contributions in relation to their income.

All over the world, many regular functions have come to a halt because of the corona epidemic. In Finland, the earnings-related pension system quickly became a considerable part of the crisis management package. Although the measures taken will lead to a temporarily reduced contribution income for pension providers, pensions are paid out as usual. Read …

For the first time, mental disorders surpassed musculoskeletal diseases as the main cause for retirement on a disability pension.  Disability pensions granted for mental disorders increased clearly in 2016. Depression has become a particularly common reason for retirement on a disability pension for women who are young or nearing their retirement age.

At year-end 2019, the number of partial old-age pension recipients in Finland was 25,000, which is an increase of 6,000 from the end of 2018. Nearly all take out 50 per cent of their accrued old-age pension. The average monthly partial old-age pension was 800 euros and the median 720 euros, statistics of the Finnish …