Disability leads to weaker income in old age
Retirees on an old-age pension who have suffered from disability during their working life struggle with making ends meet nearly twice as often as other retirees on an old-age pension.
Topical issues
Effective retirement age risen clearly
According to the statistics of the Finnish Centre for Pensions, people in Finland retired on an old-age pension at age 61.5 years on average in 2019. This is about one month later than in 2018. A total of 44,500 persons retired on an old-age pension. This is 10 per cent less than in 2018.
Balance mechanisms to uphold pension systems’ economic balance
Experts from Sweden, Canada, Germany, the Netherlands and Finland presented the balancing mechanisms of their pension systems in a recent seminar at the Finnish Centre for Pensions. The mechanisms include indexing and pension cuts.
Updated info on pension benefits in 2020 booklet and supplement
Our updated booklets help you understand social insurance and earnings-related pensions in Finland and instructs you on how to apply for your earnings-related pension.
International comparison: Finland stands out with its low old-age income inequalities
In its recent review, the OECD compliments Finland for its low old-age income inequalities. However, the OECD also expresses a concern for the low pension adequacy of the self-employed and suggests measures to improve their pensions. Pension levels in relation to earnings will be reduced in the future in most OECD countries, also in Finland.
Great Britain departed from the EU – transition period until end of 2020
Brexit has been confirmed. Great Britain’s departure from the EU will come into force on 1 February 2020. Britain’s departure from the EU is based on a mutual withdrawal agreement.
Birth rate scenarios: Birth rates likely to slightly rise, which would ease the upward pressure on pension contributions
Finland’s low birth rates can partly be explained by women having children at an increasingly higher age. This is evident from a joint study of the Finnish Centre for Pensions, the University of Helsinki and the Max Planck Institute. If the demographers’ fertility rate scenario was realised, the long-term upward pressure on contributions would fall …
2019 Pro Gradu Award for distinguished Master’s thesis now up for grabs
Each year, the Finnish Centre for Pensions grants a Pro Gradu Award of €2,000 to a distinguished Master’s thesis accepted at a Finnish university in 2019.
Finnish Centre for Pensions relocates to new premises in early 2021
The Finnish Centre for Pensions and Varma Mutual Pension Insurance Company have signed a long-term lease for office premises at Kalasatama Campus in Helsinki.
Research seminar in February: Pension reforms, non-standard work and life course inequalities in the OECD
At the first research seminar this year, leading experts from OECD will present the most recent Pensions at a Glance report and its results. One of the members of the panel is Hervé Boulhol who leads the Pensions and Population Ageing team of the OECD. The seminar also presents new international research on how pension …