Press releases

Low birth rates pose a threat for the earnings-related pension system in Finland. This is evident in the recently published long-term projections of the Finnish Centre for Pensions. The full report will be published in English later this year.

In 2018, nearly 1,300 persons retired on an earnings-related disability pension (up by 7% since 2017). The growth was evident in particular in the number of granted disability pensions due to depression. Two out of three new retirees on a disability pension due to depression were women. Three out of five of them were aged …

The monthly pension of more than half of the pensioners is below 1,500 euros. Seven per cent get a monthly pension that is higher than 3,000 euros. One in three over-16-year-old in Finland is a pensioner.

The pension financing outlook is stable for the next few decades. The insurance contribution under the Employees Pensions Act (TyEL contribution) can be kept below 25 per cent of the wages until the 2050s. However, in the long run, the low birth rates will cause a pronounced pressure to raise the contribution rate. The required …

Director Mikko Kautto, 53, has been appointed the new managing director of the Finnish Centre for Pensions as of 1 June 2019. He will succeed the current managing director Jukka Rantala, 67, who will retire at the beginning of June.

During its first two years, 23,000 persons (10,300 in 2018) chose to take payment of the partial old-pension. Nearly 90 per cent selected to take out the maximum amount, or half of their earned pension pot. On average, they were paid 790 euros per month. Recent statistics of the Finnish Centre for Pensions reveals that …

Workers going abroad to work can remain covered by the social security laws and benefits of their home country and avoid extra fees in the country in which they work. They need an A1 certificate for this.

The sharing economy poses a challenge in terms of pension insurance: when is a person working on digital platforms a self-employed person and when an employee?  A new website, soon available also in English, offers information on the statutory obligations relating to sharing economy.

The average age of retirement on an earnings-related pension in Finland edged up to 61.3 years in 2018, according to statistics from the Finnish Centre for Pensions. New retirees were one month older than the year before. Overall the number of new retirees on an old-age pension was considerably down from the previous year as …

Urban-dwelling males aged 61 are the most likely to take a partial old-age pension. A recent study by the Finnish Centre for Pensions indicates that the self-employed and unemployed are more likely to take payment of the pension than wage earners.