Higher earnings-related pension for graduates

If you graduate with a degree your earnings-related pension when you retire can be larger.

Eligibility

Degrees which count towards the pension are

  • bachelor's and master's level university degrees
  • bachelor's and master's level degrees earned in a university of applied sciences
  • a basic vocational qualification.

Further requirements are that

  • you earned the degree on or after 1 January 2005
  • you were between 18 and 67 years old when you graduated and
  • you have been in paid employment which provides you with an earnings-related pension.

You can earn a pension also for a degree you complete outside Finland if you received financial aid from Finland towards that degree.

You can accrue a pension by completing a degree even if you are not a Finnish citizen or you are not covered by the Finnish social security system.

Amount and payment

The total amount of your earnings-related pension depends on how long you have been employed and what were your earnings.

There is a fixed pension accrual period for each degree. The time you take to graduate does not affect the amount of your pension. You can accrue a pension for up to five years for any number of degrees you complete.

Degree Accrual period Amount of pension*
Master's level degree earned in a university or a university of applied sciences 5 years €54.55 per month
Bachelor's level degree earned in a university of applied sciences 4 years €43.64 per month
Basic vocational qualification or bachelor's level university degree 3 years €32.73 per month

* At the 2017 level, completing a degree accrues pension at the monthly rate of €0.91. When your pension is calculated, the amount is uprated to the level prevailing at the time of calculation.

No pension accrues for periods

  • when you were under 18 years of age
  • in which you were paid a pension
  • preceding 1 January 2005.
    • If you began a course of study before 1 January 2005 but graduated after that date, you accrue a pension for the months of active study beginning with January 2005.

Example

If you completed a degree in May 2005, you have accrued pension for a total of five months. For those five months, you earn a pension of €4.55 per month (5 x €0.91 at the level of 2017)

Further information