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Current issues

2020 tax rate for pension recipients to be applied as of 1 February

From the beginning of February, we will withhold tax from pensions according to the 2020 tax rate reported by the Finnish Tax Administration. As a result of this, the amount of pension paid into your account may change from the beginning of February. You can check the amount of pension that will be paid to you in February using your Finnish online banking codes or a mobile certificate on Varma’s eServices.

Would you like to raise the tax rate on your pension?

If you would like to pay a higher withholding tax rate than what the tax authorities have informed you of, you can raise your tax rate on our eServices. If you raise your tax rate by the 26 January 2020, we will be able to use the higher tax rate as the withholding rate for your pension as of February. If you wish, you can also inform our pension payments department of the higher tax rate by phone or online via the “Messages and attachments” service.

Go to your personal pension details on our eServices

Mailing of annual letter to pension recipients has begun in the middle of December

Varma’s pension recipients will receive a personal letter in December or January stating the amount of their index-adjusted pension and withholding tax as of 1 January 2020. The letter will also state the total amount of the pensions that have been paid and the tax that has been withheld in 2019, as well as the pension payment dates for 2020. We will mail letters to approximately 340,000 pension recipients. The letters mailed at the turn of the year to pension recipients living in Finland will also be visible in the electronic archive of our eServices.

The adjusted earnings-related pension index will increase current pensions by approximately 1.2% at the start of 2020.

Residence report for pensioners living abroad

Every year along with the annual letter, Varma sends a residence report to be completed by our pensioners who live permanently outside of Finland. The report should be completed, signed and returned to us as soon as possible to ensure that the payment of pension is not interrupted.

The residence report must be returned to us, even if the pensioner’s circumstances have not changed from the previous year. The residence report can be confirmed on our eServices. This will speed up the handling of the residence report. Varma's eServices are available for pensioners living abroad, provided that they have personal Finnish banking codes or a mobile certificate required for logging in to our service.

Earnings-related pensions will rise by approximately 1.2 per cent at the beginning of 2020

The Ministry of Social Affairs and Health has confirmed the indexes for earnings-related pension provision for the year 2020.

The earnings-related pension index in 2020 will be 2617. Compared to 2019, the earnings-related pension index will rise by approximately 1.2 per cent. The earnings-related pension index is used to adjust earnings-related pensions in payment. When calculating the earnings-related pension index, the changes in price level weigh 80 per cent and the changes in wage-earners’ income level 20 per cent.

Varma’s electronic employee pension card to be renewed at the end of August

Our electronic employee pension card is now easier to use than before. With the implementation of new technology, the electronic card can now be used without an internet connection. The card is saved to the home screen of a mobile phone or tablet and opens from the icon without signing in. Saving the card works best with Android and iPhone phones and tablets. The electronic card functions as proof of being retired in just the same way as a traditional card sent by post. Therefore, in order to get pensioner discounts, you no longer need to carry with you a separate plastic card once the card is saved on your phone or tablet.

We recommend visiting our eServices to save the new version of the electronic employee pension card as soon as possible, especially if you are already using an electronic card saved before the end of August. The old employee pension card icon will be taken out of use at the beginning of November 2019. After that, the employee pension card can no longer be opened with the old icon. Saving the card is as handy as before. Clear instructions for saving the card can be found on the employee pension card page of our eService. The page is visible to those recipients of a pension who have the right to an employee pension card.

 

Current issues

Check the pension payment dates

Pension payment dates

  • Earnings-related pensions are paid in advance on the first banking day of each month.
  • If the first day of the month is a Saturday, Sunday or holiday, you can withdraw your pension on the next business day.

In accordance with Finnish pension legislation, earnings-related pensions can only be paid once during each calendar month. The payment day cannot be moved to the preceding month, because the right to receive a pension exists on a monthly basis.

Keeping your personal details up to date

Changing your pension bank account

You can change the bank account into which your pension is paid on our eServices, if you have Finnish banking codes or a mobile certificate required for logging in. If you do not have Finnish banking codes, please print out the form below and mail it, completed and signed, to the following address:

Varma Mutual Pension Insurance Company
Pension Payments
P.O. BOX 3
FI-00098 VARMA, Finland

You can also inform us of your new bank account number in a free-form letter sent to us either by post or by fax. We cannot change your bank account number over the phone or via e-mail, because the notification of a changed bank account must contain the pensioner’s signature.

Print out the notification of a changed bank account form (pdf)

Change of address

If you move, we usually receive information about your new address in Finland directly from the Finnish Population Register Authority. If you live outside of Finland, however, we do not automatically receive information about changed addresses. For that reason, it is important that you notify our pension payments department if you live outside of Finland and your address changes. If you have Finnish banking codes or a mobile certificate, you can change your address yourself by logging in to our eServices. You can also notify Varma of a changed address by email, post or fax, or by using the secure electronic form below.

Notification of a changed address outside of Finland 

View and change your personal details

  • Next pension to be paid
  • Pensions paid (12 previous months)
  • Changing your account number
  • Changing your contact details
  • Printing out pension certificates
Your personal details

Pension taxation

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Pension certificates

When dealing with the tax office, the social insurance institution (Kela) or social service offices, you may be required to provide proof of your pension. Through our eServices, you can print out a certificate stating the amount of your monthly pension, as well as the pension payments that have been made in the current or previous year.

If you do not have Finnish banking codes or a mobile certificate required for logging in, you can use the electronic form below to request the certificate you require. If you require a certificate in English, please indicate this in the field ‘Additional information’. We will send you the certificate by post to your home address.

Request for a certificate 

If you require a pension certificate in a language other than English or Finnish, please contact:
Varma
Pension Payments
P.O. BOX 3
FI-00098 VARMA, Finland or
send an email to: pensionpayments@varma.fi.

Print out
a certificate

If you log in to our eServices, you can print out a certificate

  • of the amount of the monthly pension
  • of the pensions paid during the current year
  • of the pensions paid during the previous year
Print out a certificate

Frequently asked questions

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Employee pension card

The trilingual employee pension card serves as proof of retirement also outside of Finland. We will send the employee pension card, which entitles the holder to pensioner discounts, by post to your home address roughly two weeks after the pension decision has been granted. You can obtain the pension card from Varma if we have granted you:

  • old-age pension
  • early old-age pension
  • permanent, full disability pension or
  • unemployment pension.

Frontside of the employee pension card

The card can only be granted to persons who receive a permanent full pension, so partial early old-age pension, part-time pension, partial disability pension, cash rehabilitation benefit or survivors’ pension do not entitle you to the employee pension card.

You can also use the employee pension card on your mobile device

If you wish, you can also save your electronic employee pension card on your smart phone or tablet when you log in to our eServices using your personal Finnish banking codes or a mobile certificate. Once you save the employee pension card you no longer have to carry around the plastic card. You can, of course, also order a new card from our customer service if your old card has been lost or damaged.

How to obtain an electronic employee pension card (instructions)

Order an electronic employee pension card

 

Any questions concerning the electronic employee pension card?

Pensioners living abroad

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