Eläketurva

The Finnish pension scheme

Eläketurva

The Finnish pension scheme

Finland operates two complementary statutory pension schemes:

• Earnings-related pensions are earned through paid work and self-employment. Those receiving a wage or who are self-employed fall under the earnings-related pension scheme. The duty of employers is to arrange pension insurance for all their employees and to pay the insurance contributions. Self-employed persons arrange the payment of insurance contributions themselves.
• National pensionsare intended for those senior citizens without an earnings-related pension or whose earnings-related pension is inadequate.

Both pension schemes include old age pension and disability pension. Old age pension can begin at different ages: normally at 63–68 under the earnings-related pension scheme and at 65 under the national pension scheme.

If your pension is small, you may be entitled to receive guarantee pension (takuueläke) in addition to your other pensions. With the guarantee pension, the pension of a person residing in Finland will increase to approximately 688 euros per month. You are eligible to receive guarantee pension if you have lived in Finland for at least three years after your 16th birthday. 

Immigrants are entitled to a pension

Immigrants who have lived in Finland for a sufficient length of time are entitled to receive a pension on the basis of old age or disability. The amount of pension depends on how long the person has lived and worked in Finland.

In addition to pension, the Social Insurance Institution may also pay a housing allowance (asumistuki) to immigrants on low income.

If a spouse or family guardian is deceased, the widow(er) and children may apply for a survivor’s pension.

Applying for a pension

All pensions must be applied for. You may apply for earnings-related pensions and national pensions using the same form, which may be lodged at any Social Insurance Institution office, at the customer service counters of employment pension institutions, or at the Finnish Centre for Pensions. Application for a disability pension requires a separate form. Applications may be made using printed or online forms. If you have electronic banking IDs you may also apply directly for an old age pension online.

Further information

The website of the Social Insurance Institution provides more information on the national pension and guarantee pension in Finnish, Swedish, English and Estonian.

The website at tyoelake.fi provides information on the earnings-related pension in Finnish, Swedish and English.