The Finnish pension system is an important element in providing income security
- in old age
- the event of work incapacity
- in the event of the death of a breadwinner
The MSAH is responsible for preparing pension legislation. Pension security comprises work pensions, the national pension and guarantee pension.
Pension accrued from wages or self-employed earnings. Pension accrues also for unpaid periods of earnings-related social security benefits, periods of home care of one’s own children under the age of three, and studies leading to a degree.
Minimum pension security for those who have not accrued an earnings-related pension, or if it is small.
Pension benefit guaranteeing everyone a minimum pension larger than the national pension.
Earnings-related pension and national pension benefits include the old age pension, work disability pension, rehabilitation benefits and family pension. The earnings-related pension includes also part-time pension, partial oldage pension and years-of-service pension. New part-time pensions have not been granted as of the beginning of 2017.
Old age pension
A pension benefit enabling one to retire from work partially or fully.
Work disability pension
Makes up for loss of earnings as a result of long-term work disability.
Rehabilitation benefits during rehabilitation
A person who is temporarily incapable of work and whose handicap or illness is expected to improve through rehabilitation is granted rehabilitation benefits during the rehabilitation period.
Paid to widows/widowers and children.
Reinforcing one's pension security
Statutory compulsory pension cover can be supplemented by additional pension cover arranged thorough employers or by oneself.