The website New pension benefits and the pension reform shows how the 2017 pension reform affects the statistics . The pension reform introduced two new pension benefits: the partial old-age pension and the years-of-service pension. The reform also raises the retirement age gradually.

Nearly 60,000 persons received a partial old-age pension at the end of 2023

Graph’s data in Excel file

In 2023, the total number of persons with a partial old-age pension continued to rise and was 57,000 at the end of the year. The volume continued to rise even though the number of new partial old-age pensioners in 2023 was clearly lower than in 2022, when a record-high number of claims for the partial old-age pension was submitted.

Nevertheless, the number of new partial old-age pensioners grew considerably in 2023 compared to the previously established level. In 2023, a total of 21,000 new partial old-age pensions were paid out. The amount was 1.5 times higher compared to before 2022.

The main reason for the steep rise in pension claims at the end of 2022 was the exceptional index development which encouraged people to retire towards the end of the year. The phenomenon was repeated in 2023 but was clearly less pronounced than in 2022. The benefit from taking the pension early due to the favourable pension index was minor.

In 2023, 15 per cent of those born in 1962 selected to take out a partial old-age pension. They received an average monthly pension of 750 euros. Since most partial pensions of the age cohort started right after turning 61 years, the pensions were taken out 46 months early, on average. For this age cohort, it meant an average reduction of 170 euros per month when the pension was taken out at 50 per cent.

(Updated on 6 June 2024)

Years-of-service pension paid to 147 persons at end of 2023

The years-of-service pension was introduced in connection with the 2017 pension reform. The pension can be granted to individuals who were born in 1955 or after and who have done work that requires great mental or physical effort for at least 38 years. The first years-of-service pensions were paid out in the spring of 2018. The years-of-service pension can be paid out between age 63 and the retirement age for an old-age pension, so the partial old-age pensions that began last year have been in payment for a maximum of 1.5 years.

During its six-year history, a total of 1,500 persons have claimed the years-of-service pension. Every third of them have retired with the pension. Many of the claimants have been granted a disability or an old-age pension directly. Some of the claims have been rejected. For the most part, the rejections have been linked to the prerequisite of work that requires great mental or physical effort.

Additional information:

• Partial old-age pension

Years-of-service pension 2018–2023

	2018	2019	2020	2021	2022	2023
Claimants	101	111	208	266	352	413
Starting pensions	21	27	72	84	119	134
– Average pension €/month	1,870	2,081	2,173	2,074	2,115	2,410
Pensioners at 31 Dec.	5	15	62	75	104	147

(Updated on 6 June 2024)

Additional information:

• Press release 6 June 2024: Partial old-age pension still going strong in Finland
• Years-of-service pension

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