Topical issues

Most young people in Finland are in gainful employment at some point between ages 18 and 22. At the same time, they are building the beginnings of their future pension. One in ten young people in this age group have accrued a pension of almost 120 euros, according to a new study out by the Finnish Centre for Pensions.

Pensions remain at the top of the list of citizens’ concerns in Europe, but unemployment security and family policy have attracted growing focus in the wake of the financial crisis. These shifts in public opinion are highlighted in a new study by the Finnish Centre for Pensions.

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.

Each year, the Finnish Centre for Pensions grants a Pro Gradu Award to a distinguished Master’s thesis. Could your thesis be the next winner of the 2,000 euro award?

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.

The application of EU regulations on posted workers to Britain will change as the transition period ends. As of 1 January 2021, posted workers will be subject to the regulations of the withdrawal agreement.

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.

The tasks of the Finnish Centre for Pensions are extended regarding exemption procedures from applicable law in situations that comply with the EU regulations on social security and social security agreements. In the future, the Finnish Centre for Pensions will also issue decisions regarding exemptions for insuring work abroad.

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.