Approaching retirement age

You can usually retire on an old-age pension when you are between 63 and 68 years of age. While the standard age of retirement on a national pension is 65 years, you can choose to begin to draw earnings-related pension at any time between ages 63 and 68. The longer you work, the higher the earnings-related pension you will get. For more information about how earnings-related pensions are determined, see Työeläke.fi.

In the public sector, some provisions still exist that stipulate a special retirement age for specific occupations or a personal retirement age for those employed before the pension laws were amended in 2005. For more information about pensions for public-sector employees, see the website of Keva, the local government pensions provider.

A national pension at age 65

The old-age pension payable under the national pension system begins at age 65. If you postpone the start of your pension, you will receive a larger pension. At the earliest, you can begin to receive old-age pension at age 62, in which case the pension is referred to as an early old-age pension. If you have been unemployed a long time and have received unemployment allowance for additional days, you can get a national pension at age 62 without any reduction for early retirement.

The national pension provides basic economic security for retirees whose income from earnings-related pensions is small or non-existent. Other continuing income from pensions also affects your eligibility for a national pension and the amount of pension that may be due to you. However, other income or property you may have does not affect your national pension, and neither does the income of your spouse or partner.

If you move to Finland at or near retirement age, contact Kela to check whether you are covered under the Finnish social security system. You will not receive a national pension if you have not lived in Finland before reaching the age of 65 or retiring. However, you may be entitled to a guarantee pension if your pensions from abroad are very small.

Moving abroad may affect your eligibility for pensions or other social security benefits.

Updated 12/05/12