Topical issues

Occupational class inequalities in physical functioning (PF) increased after old-age retirement and decreased after disability retirement. In a study by the University of Helsinki and the Finnish Centre for Pensions, we have reviewed for the first time how PF has developed after old-age and disability retirement.

The new Suomi.fi guide ‘Death of a close family member’ guides you through the difficult process step by step. The Finnish Centre for Pensions has contributed to the content of the guide. The Suomi.fi web service is provided by the Digital and Population Data Services Agency.

Last year, nearly 35,000 persons drew the partial old-age pension for the first time. This is more than ever before. A substantial number of well-off people chose to start drawing a partial old-age pension last year. As a rule, the pension is drawn at a 50-per-cent level, which translates into an average of 830 euros per month.

The average nominal return of the pension funds included in our comparison was more than eight per cent in the negative in 2022. The real return is even weaker since inflation pushed losses deeper in the red in all countries. The average real return was nearly –15 per cent. However, Finnish earnings-related pension investors performed above average.

The intended retirement age has increased in Finland at the same pace as the retirement age after the 2017 pension reform. In many other countries, retirement intentions have remained virtually unchanged despite pension reforms.

At the end of 2022, the Finnish Centre for Pensions issued instructions on when to apply for the A1 certificate for work abroad. Now we have specified the instructions for short conference and business trips.

Atypical employment relationships and employment interruptions are more common among today’s youth in EU countries than among older generations. According to a recent international study, current pension systems do not fully consider these non-continuous and atypical careers. Themes of this study are discussed at the webinar of the Finnish Centre for Pensions on Monday 8 May 2023 at 14.00–16.00 (EEST)/ 13.00–15.00 (CEST). The webinar is in English.

Atypical employment relationships and employment interruptions are more common among today’s youth in EU countries than among older generations. According to a recent international study, current pension systems do not fully consider these non-continuous and atypical careers.

The total pension expenditure in 2022 was 35 billion euros. Every third person in Finland who has turned 16 years received a pension.

Sami Salmi (Bachelor of Business Information Technology) has been appointed Head of Information Management at the Finnish Centre for Pensions as of 2 May 2023.