Finnish pension system in brief
The statutory pension security in Finland consists of earnings-related pension and residence-based national pension. Earnings-related pension security is financed mainly through employer and employee contributions. National pensions and guarantee pensions are meant for those pensioners who have no earnings-related pension or whose pension is very small.
There is no fixed retirement age in the earnings-related pension scheme. You can apply for an earnings-related pension at any time between the ages of 63-68. Within the national pension scheme, the old-age retirement age is 65 years. The amount of earnings-related pension depends on how long you have been working and what your salary has been.
- Finnish earnings-related pension system (etk.fi)
- Työelake - a shared portal of all the Finnish pension insurance companies
- Foreign employees in Finland (etk.fi)
- Moving within Europe - which country will pay my old age pension? (ec.europa.eu)
- Pension grows from work (video produced by Finnish Centre for Pensions at youtube.com)
- What is earnings-related pension system? (etk.fi)
- Pension glossary (tyoelake.fi)
Pensions for persons working at the UEF
In accordance with Section 11 of the Act on the Implementation of the Universities Act (559/2009), persons in the employ of the universities who were born before the first of January 1980 shall be governed by the State Pensions Act (1259/2006, "VaEL"). Other persons in the employ of the universities shall be governed by the Employees Pensions Act (395/2006, "TyEL"). The Finnish Centre for Pensions (ETK) serves as the joint statutory co-operation body of the earnings-related pension field.
If you are receiving a grant or a scholarship from Finland, the Farmers' Social Insurance Institution (Mela) handles your statutory earnings-related pension and occupational accident insurance.
For more information: