Pension taxation

Like other earned income, earnings-related pension is taxable income. Pension is taxed according to tax legislation and the Tax Administration’s guidelines. Since pensions are taxed differently than salaries, you will need a different tax card for your pension. Once you receive a pension decision, obtain a tax card for your pension as soon as possible.

Obtain a tax card for pension income when your pension begins

If we have not received your pension income tax card when your pension begins, we will have to withhold 40% tax on your pension. If the amount of your pension increases by more than 20 euros, the tax on the increase is 40%.

We will refund any excess tax withheld from your pension as soon as possible after you have received the pension income tax card from the tax authority.

How to get a new tax card

  • From the MyTax service at vero.fi/omavero
  • From the Finnish Tax Administration’s service number at 029 497 000 or
  • from a Finnish tax office.

The Tax Administration recommends that its customers primarily use the online service. When you order a tax card, the tax authorities will send it directly to Varma. 


To obtain a tax card, you are required to have:

  • a pension decision
  • information about your earnings at the start of the year, withholding tax and deductions.

Attend to your tax matters

  • If the amount of your pension changes for some reason other than the annual index adjustment, contact your local tax office to verify your tax rate.
  • If you wish to raise the tax percentage indicated by the tax authority, you can do that yourself in our online service. Indicate only the increase in the online service.
  • If you are working while drawing a pension, you must obtain a separate tax card for your employment.


Log in to Varma Online Service

Taxation for pension recipients living in Spain will change as of 1 January 2022


Starting from 1 January 2022, Finland has the right to collect taxes on nearly all pensions paid from Finland to Spain as the application of the transition period regulation of the tax treaty between Finland and Spain ends. Our pension recipients living in Spain should check the vero.fi website to see how the tax treaty influences the taxation of pensions and, if necessary, request a new tax card for pension.

Read more about the taxation change at vero.fi

Varma takes care of pension matters

  • Once your pension begins, we request a new tax rate from the tax authorities every year.
  • We inform the Incomes Register about the pension payments you have received and the taxes that have been withheld on them.
  • If you live outside of Finland permanently and it has been 3 years since you left Finland, we will request a tax card for limited tax liability from the Finnish tax authorities for your pension.

Help with using our services

Take care of your pension matters online

In our online service, you can, for instance

  • order the employee pension card
  • send and receive messages and attachments
  • view decisions and documents in the electronic archive
  • update your contact details and raise your tax percentage.
Log in to Varma Online Service