Amount and payment

The full amount of the guarantee pension is

EUR 855.48 per month between 1 January 2022 and 31 July 2022
EUR 885.63 per month between 1 August 2022 and 31 December 2022.

The full amount is payable if you have no other pension income. The gross (i.e., before-tax) value of your other pension income is deducted from the guarantee pension.

The amount of the guarantee pension is affected by the recipient’s other income from pensions (for persons who receive a disability pension and persons who receive a guarantee pension on the grounds of incapacity for work, also earnings). Other pension income is factored in at its exact amount (down to the cent).

In addition to the disability pension, you can earn a maximum of 

EUR 855.48 per month between 1 January 2022 and 31 July 2022
EUR 885.63 per month between 1 August 2022 and 31 December 2022

without any effect on the further payment of the disability pension or guarantee pension. The earnings limit for the guarantee pension also concerns persons who are permanently blind or unable to move.

The amount of the guarantee pension is affected by the recipient's other income from pensions. Other pension income is factored in at its exact amount (down to the cent).

If the amount of the guarantee pension is less than EUR 7.16 per month (from August 1st 2022), it is not paid out.

Examples of the amount of guarantee pension payable to persons living alone, from August 1st 2022 (EUR/month)
National pension Earnings-related pensions, total Guarantee pension Total pension
- - 885.63    885.63   
703.45    - 182.18    885.63   
703.45    50.00 132.18    885.63   
683.16    100.00 102.47    885.63   
658.16    150.00 77.47    885.63   
587.82    290.65 7.16    885.63   
512.41    441.48 - 953.89   
483.16    500.00 - 983.16   
National pension Earnings-related pensions, total Guarantee pension Total pension

 

Examples of the amount of guarantee pension payable to persons in a couple relationship, 2022 (EUR/month)

-   -   885.63    885.63   
628.03    - 257.60    885.63   
628.03    50.00 207.60    885.63   
607.74    100.00 177.89    885.63   
582.74    150.00 152.89    885.63   
512.40    290.65 82.58    885.63   
436.99    441.48 7.16    885.63   
407.74    500.00 - 907.74   

Index adjustment

Kela annually adjusts the guarantee pensions in line with the index. The pension amount can be either increased or reduced. The customer does not have to take any action due to the index adjustment. Kela will change the amount automatically.

Early old-age pension reduces the guarantee pension

Taking the old-age pension early reduces the amount of the guarantee pension or may prevent it from being paid at all.

  • If you have taken out an early old-age pension before the normal retirement age of 65 years, your guarantee pension will also be paid out at a reduced rate. The percentage by which the guarantee pension is reduced is equal to that applicable to your national pension.
  • If you have taken only your earnings-related pension or self-employed person's pension early, the guarantee pension will in any case be reduced by the percentage that applies to the relevant pension.

Example of early old-age pension and guarantee pension

A person living alone will reach the age of 64 years in July 2022, and wishes to retire. She will not qualify for any earnings-related pensions.

Kela will grant her an early national pension and guarantee pension starting 1 August 2022. Each pension will be reduced by 4.8 %, or 0.4% for each month it is brought forward from the standard age of retirement.

The amount of the national pension is EUR 669.68 per month and that of the guarantee pension EUR 173.43 per month. The total amount is EUR 843.11 per month. Her pension income will thus be permanently EUR 43 lower than it would be had she retired at age 65.

Payment

Guarantee pensions are paid on the 22nd of each month. If banks are closed on the scheduled payment date, the pensions are paid on the nearest preceding banking day.

National pensions are paid on the 7th of each month. The authorised pension providers usually pay the earnings-related pensions at the beginning of each month. Kela sends the data on pensions paid out to the national incomes register within five days of the date of payment.

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