The statutory pension security in Finland consists of earnings-related pension based on employment and residence-based national pension.

Most people in Finland only receive the earnings-related pension. The national pension and the guarantee pension secure the pensioner’s income to a national minimum standard and are only received if the earnings-related pension is small or no earnings-related pension has accrued.

Earnings-related pensions are compulsory and they are arranged by the employer. Earnings-related pensions are paid for by both the employer and the employee and the employee part of the pension payment is deducted automatically from the employee’s salary.

Employee pension payments in 2019

  • Employees under 53 years old: 6,75%
  • Employees from 53 to 62 years old: 8,25%
  • Employees from 63 to 67 years old: 6,75%

In addition to the employee pension payment, an unemployment insurance payment amounting to 1,5% will be decuted from your salary.

The earnings-related pension accrues at a rate of 1.5% of your annual gross earnings starting from the start date of your employment.

If you leave Finland before retirement, it is unfortunately not possible to transfer the paid pension contributions to a pension system of another country, nor can they be returned back to you as a lump sum

However, the Finnish earnings-related pension can be paid out to employees residing in any country worldwide e.g. you can apply for a pension from Finland when you retire.

It is strongly recommended that you order a pension record from your pension provider before you leave Finland and attach that to you pension application on retirement.

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