Working during retirement

You may work while collecting pension without any impact on your pension paid by Varma. Part-time and disability pensions are subject to earnings limits, however. Work carried out alongside a pension accrues new pension.

Earnings subject to withholding tax, including holiday bonuses and fringe benefits, are considered income that accrue pension. Capital gains, such as rent and dividend income, do not impact the payment of earnings-related pension.

• There is no income limit while retired on an old-age pension or a partial old-age pension.
• The part-time pension has a personal income limit, which has been agreed on at the start of the pension.
• The disability pension has an earnings limit which is a percentage of your income level before your pension began or at least 837.59 euros/month (834.52 euros/month in 2020).  The latter limit also concerns the years-of-service pension.

While on a disability pension, you can always earn at least 837.59 euros/month (834.52 euros/month in 2020). For full disability pension the personal limit is 40% and for partial disability pension the limit is 60% of your previous income.

Your personal income limit is stated in your pension decision. If you do not know what your income limit is, you can get it at our eService or from Varma. 

When you retired on a part-time pension you was granted a personal earnings limit.

Your earnings may occasionally be 15% lower or higher than your personal income limit. Your earnings must not, however, ever fall below 35% or exceed 70% of your income level for full-time work.

You can work while receiving an old-age pension without your earnings affecting the amount of your current old-age pension. There are no earnings limits.

There are no earnings limits for persons receiving partial old-age pension either; they can work as much as they want.