Guarantee pension

The purpose of the guarantee pension is to provide residents of Finland with a minimum pension if their total pension income before taxes is less than €732,13 per month. However, the income limit and the minimum pension are lower if the recipient has opted for early retirement on an old-age pension.

The amount of the guarantee pension is affected by any other pension income you may have from Finland or abroad. A full guarantee pension is payable only to those with no other pension income. Other pension income is deducted in full from the full amount of the guarantee pension. Other pension income includes spouses' pensions and workers' compensation pensions. The Act on Guarantee Pensions includes a detailed list of the pensions deducted from the guarantee pension.

The care allowance for pensioners, the front-veterans' supplements or the child increase supplementing a pension do not reduce the amount of guarantee pension payable.

The guarantee pension is also not reduced by earnings, capital income or assets, or by the informal care allowance.

Just as other pensions, the guarantee pension affects both the amount of housing allowance payable and the amount of social assistance being paid to a family.

Updated 01/07/13

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