Press releases

A new online calculator is now available to help users estimate the amount of partial old-age pension payable to them and to gauge its effects on their old-age pension in due course. This is a useful pension planning tool that allows users to see how the choices they make impact on their pension security.

Finns are worried about the retirement income of low-income retirees in particular. Retirees’ income gaps and the availability of reasonably-priced social and health services also cause concern. A recent study by the Finnish Centre for Pensions reveals that women are more worried about pension issues than men.

Employees’ insured earnings in Finland vary significantly by age and gender. Earnings are lowest among women who have recently joined the labour market and highest among men aged 40. It seems that family formation affects the development of women’s earnings in particular.

Working for one additional year past one’s retirement age raises one’s net income for life with nearly 10 per cent on average. Women benefit more than men from deferring retirement since, on average, they live longer than men.

Although the issue of stabilizing pension financing in Finland will not be acute until the 2050s, the alternatives to tackle the problem need to be addressed now. In addition to abolishing routes to early retirement, raising the retirement age or cutting pensions can be used to balance financing. Another alternative is to employ various automatic stabilizing mechanisms.

Only 13 per cent of the Finns know how much they pay in pension contributions. 29 per cent underestimate their pension contribution rate. These are results revealed in a new survey on pension knowledge conducted by the Finnish Centre for Pensions.

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.