Topical issues

A new calculator has been published for people who are planning to use family leave. With the calculator, they can assess how family leave periods of different lengths would affect their future pension and compare their pension accrual during family leave with what they would earn as pension if they worked the same period. The …

The Finnish Centre for Pensions has produced an animated video on how earnings-related pension benefits accrue in Finland. The video is intended mainly for foreigners coming to work in Finland for a shorter or longer period of time. The video is available in English, Estonian and Russian.

One in ten 63–67-year-old retiree works. Most of the time, the work is sporadic and part-time. The number of working retirees has remained unchanged despite the increase in retirement age.

The 2020 release calendar of statistics of the Finnish Centre for Pensions is now available. The schedule lists all statistics and publications that will be published in 2020 in a chronological order.

A work community that includes both young and old workers encourages workers to stay in working life longer, a study by the Finnish Centre for Pensions shows. The extensive study based on register data examined the effects of interactions between individuals and work communities on continued working.

In 2018, the median monthly earnings of women insured under the earnings-related pension acts were 610 euros less than men’s. The gap was 850 euros in the private sector and 330 euros per month in the public sector. The monthly insured earnings of women were 80 per cent of those of men.

Private and public pension systems will merge into one pension system. Among other things, the merger will strengthen the sustainability and risk management of the earnings-related pension system and streamline the definition of disability and the criteria for disability pensions.

The negotiations on the implementation and practices of the social security agreement between Finland and Japan are under way. This week, a delegation from Japan visited the Finnish Centre for Pensions.

OECD’s report Pensions at a Glance reviews pension adequacy, structure and sustainability internationally. This time, special attention has been paid to the pensions of non-standard workers. In the comparison of pension replacement rates, Finland has remained at the same level as before.

In the long run, the declining birth rates cause a strong upward pressure on pension contribution rates. A major increase in immigration or an equivalent reduction in migration, on the other hand, would ease the pressure by several percentage points. The magnitude of the impact depends on the employment outcome of the various groups of …