Old-age pension

The age limits for old-age pension will rise by three months/age class starting in 2018.

 age limits old-age pension

The employer's obligation to insure ends at the upper age limit.
According to the Employment Contracts Act, the employment contract ends without giving notice and without a notice period at the end of the month during which the employee reaches the upper retirement age, unless the employer and the employee agree to continue the employment relationship.

If the pension is deferred past the lower age limit, it will be increased with an increment for deferred retirement of 0.4% per each deferred month.

The amount of pension can be checked on Varma's eServices at any time using one's personal banking codes.

Retiring on an old-age pension requires that the work contract ends.
The prerequisite for granting an old-age pension is that the employee is no longer in the employment relationship from which he or she is retiring.

All types of pension must be applied for.
The application should be submitted 1 month before the start of the pension, and 6 months before the start if the applicant has lived or worked abroad.

The quickest way to apply is online using Finnish banking codes at varma.fi/en > eServices. Appendix U is needed if the applicant has worked abroad.

Pdf-forms can be printed out at etk.fi/en/forms. Varma's adress is Varma, PB 3, 00980 VARMA. The application can also be sent by secure email.

Pension information request
As we handle the pension application your will get a notification by email of a pension information request awaiting response. A final pension decision can be made only once we have all the required earnings information.

If you use the monthly notification method please note that if the final salary or wages are paid after the the end of the employment contract, the earnings must be registered for the month in which the employment ended.

Working is not restricted while on old-age pension
How ever, if the employee continues working immediately after retiring, there must be a significant change in the conditions - e.g. working hours or salary - as the prerequisite for granting an old-age pension is that the employee no longer continues the employment contract from which he/she retires.

New pension accrues until the upper age limit and can be applied for when the employee reaches the upper pensionable age.

Read more: Employee retiring - What should the employer do? (pdf)
Old-age pension (pdf)