Earnings related pension

Old-age pension

Your birth year determines when you can retire on an old-age pension. You can choose to retire when you reach the retirement age of your age group: 

Year of birth Retirement age
1954 or earlier 63
1955 63 years 3 moths
1956 63 years 6 months
1957 63 years 9 months
1958 64 years
1959 64 years 3 months
1960 64 years 6 months
1961 64 years 9 months
1962 65 years
1963 65 years
1964 65 years

You can also decide to continue working and accrue more pension. Also, if you defer your retirement beyond the pensionable age, the amount of your pension will increase by 0.4 per cent for each month the retirement is deferred. For example, if you retire one year late, your pension will be 4.8 per cent higher.

If you are born 1965 or later your retirement age hasn't been determined yet. It will be linked to life expectancy and determined when you reach the age of 62.

Other pension alternatives

Finnish earnings related pensions do not only provide security in the case of old-age. Pensions are also secured for different life situations:

  • partial old-age pension allows you to take out 25 or 50 per cent of your pension before your retirement age, earliest at the age of 61
  • disability pension in case of illness affecting daily routines or a disability that prevents work,
  • vocational rehabilitation to provide support for a new start if you are currently unable to take part in your work,
  • years-of-service pension if your working capacity diminished due to a long career in mentally or physically strenuous and wearing work, earliest at the age of 63 
  • survivors' pension security for family progress when a familial pension-earner is deceased