Amount of pension

Earnings-related pension accrues on work and salary
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What does your pension consist of?

Your earnings-related pension is affected by

  • annual earned income or, if your are self-employed, your YEL income 
  • certain unpaid periods and
  • the life expectancy coefficient

If your earnings are at least €59.36/month in 2019 (€58.27/month in 2018), 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 7,799.37/year in 2019.

On our eServices, you can check your information when it suits you. Information from the year 2018 may be added until 31 Mar, so it's a good idea to check the record in April. Check your pension record.

Check your pension record annually

Information from the year 2018 may be added until 31 Mar, so it's a good idea to check the record in April.

Pension record

Why is the earnings-related pension record being sent by post?

In autumn 2019, we will send earnings-related pension records by post to those who have not checked their pension-related salary information online. It is a good idea to check the record every year.

Check your pension record annually

See detailed instructions for checking the pension record.

If you notice any missing information in your earnings information preceding 2019,

If you have not yet applied for pension, you can calculate or order an estimate:

Retirement ages and pension accrual

Retirement ages will change gradually for those born in or after 1955. Pension accrues on earnings at a rate of 1.5% annually. During the transition period between 2017 and 2025, pension will accrue at a rate of 1.7% per year for those aged between 53 and 62. The increase for deferred retirement will raise your pension by 0.4%/month if you delay your retirement until after you reach your lowest retirement age. You will not receive the increase if you

  • receive unemployment benefits
  • already receive old-age pension
  • receive disability pension

The amount of pension is affected by the life expectancy coefficient (FCP).

Varma secures your earnings-related pension (pdf)

Calculate an estimate of your pension

The pension calculator only covers people who were born between 1951 and 2000.
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The earliest age you can retire at is @RetirementYear years and @RetirementMonth months. With this calculator you can count up to 70 years of age.
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Pension calculator instructions

With this calculator you can calculate an estimate of your partial old-age pension. The lower age limit will initially be 61, and it will rise gradually to the extent that general life expectancy increases.

Partial old-age pension will be either 25 or 50 per cent of the pension that you have accrued until the end of the year before the year in which your partial retirement begins. The pension will be reduced by 0.4 per cent permanently for each month that you draw the pension before you reach the lowest age limit for old-age pension. The estimate is based on the information you enter. The calculator cannot be used to estimate your pension if you are already receiving pension or other social security benefit. The final amount of your pension may deviate from the estimate calculated here.

Instructions

Estimate the amount of your partial old-age pension

The pension calculator only covers people who were born between 1950 and 2000.
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Pension calculator instructions

With this calculator you can calculate an estimate of your partial old-age pension. The lower age limit will initially be 61, and it will rise gradually to the extent that general life expectancy increases.

Partial old-age pension will be either 25 or 50 per cent of the pension that you have accrued until the end of the year before the year in which your partial retirement begins. The pension will be reduced by 0.4 per cent permanently for each month that you draw the pension before you reach the lowest age limit for old-age pension. The estimate is based on the information you enter. The calculator cannot be used to estimate your pension if you are already receiving pension or other social security benefit. The final amount of your pension may deviate from the estimate calculated here.

Which pension and when?

Old-age pension increases towards the target retirement age

To estimate your future pension and to check your retirement age use our pension calculator or log in to our eServices.

How to apply for old-age pension
Old-age pension (pdf)

Old-age pension for the unemployed

A 62-year-old long-term unemployed employee can receive old-age pension if he/she is born before 1958 and he/she is entitled to additional days of unemployment allowance. You can check your accrued pension from your pension record.

How to apply for old-age pension for the unemployed
Pension cover for the unemployed (pdf)

Partial old-age pension

Partial old-age pension is 25 or 50 per cent of the pension you have accrued. Age limit is 61 years.

You can estimate the amount of your partial old-age pension by  using our pension calculator or by logging in to Varma's eServices.

Plan your partial old-age pension well

How to apply for partial old-age pension
Partial old-age pension (pdf)

Disability pension

You are entitled to disability pension (or the fixed-term rehabilitation benefit) if you have not yet reached retirement age and your workability has deteriorated considerably. The amount of pension is affected by

  • the amount of pension accrued during your career and
  • the pension for projected pensionable service.

The partial disability pension is half of the full pension.

You can calculate an estimate of your disability pension in our online service.
How to apply for disability pension
Disability pension (pdf)

Years-of-service pension for those who perform strenuous work

You may consider applying for the years-of-service pension, if

  • you are 63, but have not yet reached retirement age
  • you have performed strenuous and wearing work for at least 38 years and
  • your workablity is reduced by illness

The years-of-service pension consists of the pension the person has accrued until retirement without any registered supplemental pension.
Should you apply for years-of-service pension?
Years-of-service pension (pdf)

Survivors' pension

The survivors’ pension can be granted to a child under 18 years of age, a spouse or a partner in a registered partnership. A common-law spouse is not entitled to survivors’ pension.

The pension is determined by the number of beneficiaries and is at maximum equal to the primary beneficiary’s employment pension. The surviving spouse’s pension may be decreased, if there are no children under the age of 18.

Check the surviving spouse’s right to pension.
How does the surviving spouse’s employment pension influence the surviving spouse’s pension? Calculate
How to apply for survivors’ pension
Survivors' pension (pdf)

Rehabilitation allowance guarantees a better income than pension

Check surviving spouse's pension entitlement

The surviving spouse can receive survivors' pension if the marriage was entered into before the primary beneficiary turned 65. 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.

Was marriage entered into before the deceased turned 65?

Do (or did) the spouse and the deceased have a child together?

Is the widow(er) over 50 years old?

Has the widow(er) been collecting full disability pension for more than 3 years?

Was marriage entered into before the widow(er) turned 50?

Was marriage entered into before 1 July 1990?

Has the marriage lasted for at least 5 years?

The widow(er) is not entitled to survivors' pension.

The widow(er) is entitled to survivors' pension.

Widow(er)'s pension may decrease spouse's 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, has not retired > 50% for 6 months of the pension of the deceased, reduction 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 pension

Calculate

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