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Amount of pension

What does your pension consist of?

Your pension is affected by

  • annual earned income
  • unpaid periods
  • life expectancy coefficient

If your earnings are at least €57.51/month in 2016 (€57.10/month in 2015), your employer has to insure you. Self-employed activities need to be insured if they continue for at least 4 months and the earned income is at least EUR 7,557.18/year in 2016. Review on your pension record annual earned income, unpaid periods and effect of the life expectancy coefficient.

If you are under 60 years of age, you will receive a printed pension record every three years. In 2016, we will send the record to those born between January and April. You can view your pension record online every year.

How to check your earnings-related pension record (pdf)
Pension record mailing schedule for 2016 (pdf)

Check your pension record annually

We will send you a reminder when the new pension record (in Finnish or Swedish) is available. 

Electronic record

Retirement ages will change gradually

Retirement ages will change gradually for persons born in or after 1955. Check

  • your lowest retirement age
  • your target retirement age and
  • your highest retirement age

when you estimate the size of your pension using our calculator.

Accrual as of 2017

Pension accrues

  • at a rate of 1.5% per year
  • at a rate of 1.7% per year for those between the ages of 53 and 62 during the transition period from 2017 to 2025.

You will receive a 0.4%/month increase for deferred retirement if you defer your retirement until after your lowest retirement age.

When your pension is calculated, the employee’s pension contribution is no longer deducted from your annual earnings.

New types of pensions

Partial old-age pension

You can begin receiving partial old-age pension at the earliest on 1 February 2017.

  • Age limit 61 years
  • Will replace part-time pension
  • 25 or 50% of your accrued pension

Unlike part-time pension, working while on partial old-age pension is voluntary. If you are a customer of Varma and are aged 56 or older, you can assess your partial old-age pension by logging in to Varma’s eServices.
Partial old-age pension 2017 (pdf)

Years-of-service pension

  • if your workability has declined
  • through physically or mentally strenuous work
  • age limit 63 yrs and a minimum of 38 yrs of work

Security through reformed earnings-related pension (pdf)



Check surviving spouse´s pension entitlement

When the deceased person and his/her spouse have no common children, there are conditions on the granting of survivors’ pension related to the widow(er)’s age, marital status and duration of marriage. A common-law spouse is not entitled to a survivors' pension.

Widow(er)'s pension may decrease survivors' pension

Note! When calculating spouse's pension use only amounts of employment pensions. National pension is not included.
If the spouses are not yet pensioners, the disability pension’s amount is used to calculate the survivor’s pension. 

The spouse’s pension may be decreased, if

  • there are no under-aged children
  • spouse’s pension has been granted based on a death that has occurred on 1 July 1990 or later. 

When is spouse’s pension decreased?

  • The widow(er is over the age of 65 or retired > The decrease is made as soon as the survivors' pension begins
  • The widow(er) is under 65 and has not retired > First, half of the pension of the deceased, then deduction after 6 months 
  • The youngest child turns 18 > The decrease is made from the beginning of the month that follows the child’s birthday
  • The widow(er) is granted employment pension > The decrease is made again based on the widow(er)’s actual employment pension