What to do when I need information on the taxation of my pension?

Questions about pension taxation

If we have not received your pension income tax card when your pension begins, we will have to withhold 40% tax on your pension. If the amount of your pension increases by more than 20 euros, the tax on the increase is 40%.

We will refund any excess tax withheld from your pension as soon as you have received the pension income tax card from the tax authority.

You can raise your tax rate on the “Bank account number and tax rate” page in Varma Online Service. You can inform us of the tax rate raise by calling the Pension Payment Services, tel. 010 192 100 (when calling from outside of Finland: +358 10 192 100). Our service hours are Monday–Friday 9 a.m. to 3 p.m.

When you receive the pension decision, ask the Tax Administration for a tax card for pensions. Make sure that the tax card is valid from the date of commencement of the pension. Next year, we will receive the tax rate from the Tax Administration automatically, and the pensioner will not need to submit a tax card to us.

If your pension began on 1 November or 1 December, also ask for a tax card for the year following the start of the pension, because we will not receive it automatically from the Tax Administration.

If you are undergoing vocational rehabilitation you must submit a new tax card every year.

New tax percentages enter into effect annually on the 1st of February. The tax percentage applied to your January pension is the same as the previous year’s tax percentage.

Apply for pension income spreading from the tax authorities if you are receiving pension retroactively for years preceding the year of payment.

Read more about income spreading on the Tax Administration’s website at vero.fi.