Pensioners will begin receiving information about next year’s pension in mid-December
Varma’s pension recipients will receive a personal letter around Christmas time stating the amount of their index-adjusted pension and withholding tax as of 1 January 2015. The letter also includes the pension payment dates for 2015, as well as the total amount of pensions paid in 2014 and the amount of tax withheld.
The adjusted earnings-related pension index will increase pensions by approximately 0.39% at the start of 2015, because the Finnish Parliament approved a Government proposal to lower the index increment for earnings-related pensions. The increase corresponds to the increase in salaries/wages negotiated by the central labour market organisations. The lower index increments will also be used as the basis for calculating the 2016 earnings-related pension index, which means the impact of the lower index increment will be permanent.
The pension taxation percentages calculated according to the 2015 tax bases will take effect on 1 February 2015. The tax to be withheld from pensions in January will be based on the tax percentage that was in effect in December 2014. The tax administration will inform pensioners of the 2015 tax percentage that will take effect in February, so Varma will not send pensioners a separate letter stating the amount of their withholding tax for February.