Old-age pension

Within earnings-related pensions, old-age pension is possible once you have reached your personal minimum retirement age. In order to receive the pension, your employment relationship must be terminated. Self-employed persons can continue their entrepreneurial activities during retirement, but their YEL insurance ends when they retire. The longer you remain in working life, the more pension you will accrue.

When should you retire on old-age pension?

When the time comes to retire based on your age and you are ending your career, you can apply for old-age pension as an earnings-related pension. Your minimum retirement age depends on your year of birth. You can choose when to retire on old-age pension at the earliest starting from the first day of the month after you reach your personal minimum retirement age. For those born in 1957, the minimum age of retirement is 63 years and 9 months, and for those born in 1958, the minimum age of retirement is 64.

Receiving the pension is conditional on your employment relationship ending. As a self-employed person, you can continue your entrepreneurial activities during your retirement, but your YEL insurance will be terminated at the end of the month before your pension begins. Voluntary YEL insurance is possible also during retirement.

Earnings-related pension is supplemented by Finnish national pension. National pension is possible if your earnings-related pension falls below the income limit specified by Kela. You can apply for earnings-related pension and national pension using the same application.


Amount and payment of national pension on Kela’s website

Old-age pension

Check your retirement age using the pension calculator

You can freely enter a date of retirement. It can start at the earliest at the beginning of the month following the month in which you reach your minimum retirement age. If you were born in 1962 or before, your minimum retirement age is already confirmed. For people born after 1962, the retirement ages are estimates. The longer you work, the more your pension grows. The maximum retirement age is the age at which your pension accrual ends, even if you continue working.


Pension calculator in Varma Online Service

Retiring on old-age pension

In our online service, you can calculate an estimate of your old-age pension in advance. Once you have applied for pension, it is no longer possible to calculate an estimate.


Calculate a pension estimate in Varma Online Service

Fill in the electronic pension application

Fill in a pension application online roughly two weeks before your intended start of retirement. If you have lived or worked abroad, you can fill in the application six months in advance. In that case, you must also fill in Appendix U (Residence and employment abroad). Appendix U must be filled in even if you are not yet applying for a foreign pension. Based on the information in Appendix U, the impact of your time abroad on your earnings-related pension and national pension will be determined.

Be sure to have your bank account number in IBAN format on hand, as it will be requested in the application. The application also asks you when you will stop working. You do not need to attach your letter of resignation to your application.

If you choose electronic service, you will receive your pension decision in your electronic archive. You will receive a notification when the decision is made. You can check your personal documents in your electronic archive.


Apply for old-age pension in Varma Online Service

Working during retirement and the maximum retirement age

If you have been working while drawing old-age pension, you can apply for pension for that part at the earliest starting from the beginning of the month following the month in which you turn 68. You do not have to stop working even if you apply for the pension that has accrued on your employment during retirement. You will no longer accrue pension, however. Your maximum retirement age, meaning the age when your pension accrual ends, depends on your year of birth. You apply for the pension that has accrued on your employment during retirement using an old-age pension application.

Read more on page Working during retirement

Old-age pension for the unemployed

A 62-year-old long-term-unemployed employee can receive old-age pension before reaching the minimum old-age retirement age if he/she was born before 1957 and is entitled to additional days of unemployment allowance. The amount of an unemployed person’s old-age pension is the same as the amount of accrued pension stated in the pension record. Old-age pension for the unemployed is applied for using the old-age pension application form.

Pension cover for the unemployed 

Decision on old-age pension

You will usually receive a provisional decision on your application. The average processing time varies, but right now it is four days. A provisional decision is issued before all the information that affects the amount of your pension is known; for instance, the amount of your final salary. The final pension decision takes into account all factors, such as the increase for deferred retirement, that affect the amount of your pension.

Along with the decision, you will receive instructions that include important matters for pensioners, as well as a reminder to apply for a new tax card for your pension as soon as possible after your pension begins.

If you choose the electronic service, you will see the decision concerning your pension in your electronic archive. Otherwise, the decision will be sent by post to your home address.

Help with using our services

Take care of your pension matters online

In our online service, you can, for instance

  • calculate an estimate of the amount of your pension in advance
  • fill in an application for old-age pension on the ‘Applications and notifications’ page
  • see how the processing of your application is progressing
  • see the decision on your pension in the electronic archive
  • use the services for pensioners once you have received a decision
  • send and receive messages and attachments.
Log in to Varma Online Service