Press releases

In 2021, the number of new retirees on a disability pension declined by more than eight per cent. The decline was evenly distributed between the main disease categories. Mental disorders continue to be the most common cause for retirement on a disability pension. The single most common cause is depression – on average, it causes nine persons a day to retire on a disability pension.

Nearly three out of four employers state that working with typical tasks at the workplace until age 65 is possible. Yet, according to a new study by the Finnish Centre for Pensions, most employers doubt that working lives will be extended at their own place of business.

In 2021, the Finns retired on an earnings-related pension six months later than in 2020. The average effective retirement age was 62.4 years. Half of this increase can be explained by the rising retirement age and half by the surprisingly big drop in the number of new retirees on a disability pension.

On average, the wages of men increase by 3.4 per cent and of women by 3.0 per cent when changing jobs. Highly educated men benefit the most from job mobility. Women have surpassed men when it comes to the number of job changes.

Earnings-related survivors’ pensions were reformed as of the beginning of 2022. As a result, both the surviving spouse’s pension and the orphan’s pension were amended. The amendments do not apply to surviving spouses whose spouse passed away before 2022. Tyoelake.fi has introduced a new calculator that can be used to calculate the pension received by the surviving spouse and the orphan(s).

The most common age of claiming the partial old-age pension is 61. When viewed by age cohort, every fifth person entitled to the pension claims it – men more often than women. This is revealed by a recent study conducted by the Finnish Centre for Pensions.

Some Finnish authorities have ruled that platform workers (for example, food couriers) are employees while others view them as self-employed. The contradictory rulings are unfortunate as it would be important for both platform companies and platform workers to clarify the social security of platform workers. Employees are insured by the employer; the self-employed have to insure themselves.

In 2020, the first-time insured under the earnings-related pension acts numbered 74,000, which is 25 per cent fewer than in 2019. The last time the number of young persons insured for the first time dipped was in the wake of the financial crisis in 2009. The average monthly earnings of Finnish employees in 2020 were …

Two of three pension recipients find it somewhat easy to cover everyday expenses. However, according to a fresh study by the Finnish Centre for Pensions, one in ten reported great financial strain.

This year, Finland ranked seventh in the international Global Pension Index comparison. Although the country’s overall index value rose from 2020, Finland dropped two notches as Iceland and Norway passed it on the score board. Once again, the Finnish pension system was ranked the most transparent and reliable pension system in the world.