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Article 28.4.2022

Finnish pension system in a nutshell

Finland has one of the best pension systems in the world - and that’s a fact. But if you’re starting a business in Finland, you might be wondering why it’s mandatory for entrepreneurs to take out pension insurance. Or for employers to get pension insurance for their employees? We are here to help you!

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  1. News 29.10.2024
    Pensioner, the 2025 tax card goes into effect already in January
    Next year, tax cards for pensioners and employees will enter into force as early as 1 January 2025. The change will come into effect automatically for our pensioners, and you don't have to worry about it.
  2. News 28.10.2024
    Employer, self-employed person, pensioner – 2025 earnings-related pension index and wage coefficient confirmed
    The Ministry for Social Affairs and Health has confirmed the indices for earnings-related pension insurance for 2025. Next year, the earnings-related pension index is 3077, which means an approximately 1.3 per cent increase on pensions at the start of the year. The confirmed wage coefficient is 1.673. Compared to 2024, the wage coefficient will rise some 2.2 per cent.
  3. News 27.10.2023
    Employer, self-employed person, pensioner – 2024 earnings-related pension index and wage coefficient confirmed
    The Ministry for Social Affairs and Health has confirmed the indices for earnings-related pension insurance for 2024. Next year, the earnings-related pension index is 3037, which means an approximately 5.7 per cent increase on pensions at the start of the year. The confirmed wage coefficient is 1.637. Compared to 2023, the wage coefficient will rise some 5.1 per cent.
  4. Press release 15.8.2023
    Ilmarinen’s Interim Report 1 January to 30 June 2023: Return on investments rose to 3.7 per cent, solvency strengthened and cost-effectiveness continued to improve
    The return on Ilmarinen’s investment portfolio was 3.7 (-6.2) per cent, i.e. EUR 2.1 billion. The market value of investments grew to EUR 58.2 (56.3) billion. The long-term average return on investments was 5.8 per cent as of 1997. This corresponds to an annual real return of 3.8 per cent.
  5. News 13.12.2022
    YEL reform enters into force at the start of next year
    The Self-Employed Persons’ Pensions Act will change at the start of the year: YEL income will be determined in more detail and adjusted more often. “Self-employed persons deserve the same level of pension and social security as employees. The reform will help achieve this,” says Minna Hakkarainen, Ilmarinen’s Director, Insurance Services.
  6. News 21.10.2022
    Employer, self-employed person, pensioner – 2023 earnings-related pension index and wage coefficient confirmed
    The Ministry for Social Affairs and Health has confirmed the indices for earnings-related pension insurance for 2023. Next year, the earnings-related pension index is 2,874, which means an exceptionally large, approximately 6.8 per cent increase on pensions at the start of the year. The confirmed wage coefficient is 1.558. Compared to 2022, the wage coefficient will rise some 3.8 per cent.
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