Topical issues

A fresh international evaluation of the Finnish pension system finds that the system efficiently alleviates poverty and provides a reasonable income for pensioners. Nevertheless, the system will face a financing challenge that must be addressed in due time, by either raising pension contributions or strengthening the adjustment mechanisms.

An international and independent evaluation of the Finnish pension system commisioned by the Finnish Centre for Pensions and conducted by the distinguished pension expert Professor Torben M. Andersen (Aarhus University) is now completed. Prof. Andersen will present the results of his work at a webinar hosted by the Finnish Centre for Pensions.

At our next research webinar at the Finnish Centre for Pensions, we will discuss how working life appears in recent research. Is the future and development of working life as unstable as claimed? Join our research webinar on Monday 13 September.

Due to the corona pandemic, telecommuting from abroad has increased in popularity. The phenomenon is bound to stay. The Finnish Centre for Pensions handles A1 certificate applications for telecommuting abroad in the same way as for posted workers. In both cases, social security should be arranged well ahead.

As of September 2021, Sweden starts to pay a new benefit, an income pension complement. The benefit may be granted to old-age pension recipients with a long working life and a small pension. The complement is paid also to Finland.

The new department International Services launched its operations at the Finnish Centre for Pensions at the beginning of the year. The department issues decisions on social security for work abroad, handles claims for pensions from abroad, offers pension advice, calculates pensions and offers customer service. Focusing all international services into one department generates more efficient services.

Claiming a partial old-age pension is associated with parental lifespan, a recent study by the Finnish Centre for Pensions has shown. The shorter their projected life expectancy, the more likely it is that people will claim a partial old-age pension.

Every second Finn supports increasing employment-based immigration if our pension system is to be amended due to its financing. The Finns strongly oppose pension cuts. This is evident in the latest Pension Barometer conducted by the Finnish Centre for Pensions.

Pocket Statistics, published by the Finnish Centre for Pensions, includes central statistical data, time series and info-graphics on pensions. The most recent figures date back to year-end 2020.

A total of 1.3 million persons draw an old-age pension. One in four of them are baby boomers. In 2020, around 42,000 persons retired on an old-age pension, down by five per cent compared to 2019. Earnings-related pensions were paid to an amount of nearly 30 billion euros.