The calculator estimates the amount of partial old-age pension payable to the beneficiary and the effect of the reduction for early retirement based on user-fed data.

Claiming a partial old-age pension will also affect the amount of old-age pension in due course. The calculator shows both how much the user will receive in old-age pension if they decide to draw a partial old-age pension, and how much they will receive if they don’t. This allows users to compare and see how their choices impact on their future pension income and to make informed decisions.

The calculator takes account of rising earnings levels. Users can choose between two calculation scenarios with regard to future earnings development: earnings can be assumed either to remain unchanged at the current level or to rise in accordance with Finnish Centre for Pensions projections.

The partial old-age pension calculator is available for public use on Työeläke.fi in Finnish, Swedish and English. Pension estimates can be provided for persons born in 1955–2003. Pension providers will offer more detailed advice and information on partial old-age pensions and calculations for different options.

Partial old-age pension

• Persons aged 61 or over can choose to take payment of one-quarter (25%) or one-half (50%) of their accrued pension funds.
• For persons born in 1964 the lower age limit rises to 62 years. For persons born in 1965 and later the age limit will be adjusted to changes in life expectancy.
• A reduction for early retirement is made to the portion of pension taken out early, that is, before the earliest age of eligibility for old-age pension. The pension is reduced by 0.4% for each month of early retirement.
• Pensions will be increased with a 0.4% increment for each month of deferred retirement.
• The final pension will be adjusted with the life expectancy coefficient.
• No limits on working hours or earnings.

Access calculator on the website Työeläke.fi