Partial early old-age pension
You can retire on a partial early old-age pension if you are 61 or older and receive no other earnings-related pension. However, a survivors’ pension or surviving spouse’s pension does not prevent retirement on a partial early old-age pension.
For persons born in 1964, the age limit for a partial early old-age pension is 62. The age limit for persons born in 1965 and later will be confirmed later.
When you retire on a partial early old-age pension, you can choose whether your pension is 50% or 25% of the pension that has accrued to you.
Amount of pension
Partial early old-age pension is calculated from the pension that has accrued to you up to the end of the preceding year. The decision on how much pension you wish to draw per month is up to you: either 50% or 25% of the pension that has accrued to you. If you decide to draw 25%, you can decide to draw the other 25% at a later date.
If you retire on partial early old-age pension before reaching the lowest age at which your age group is eligible for old-age pension, you pension will be reduced by 0.4% for every month of early retirement.
Correspondingly, your pension will be increased by 0.4% for every month of deferment if you retire on partial early old-age pension only after reaching the lowest age at which your age group is eligible for old-age pension.
Working while on partial early old-age pension
Receiving a partial early old-age pension does not depend on whether or not you are working. This means that you can continue working as earlier, cut back on your working hours or stop working altogether while receiving the pension.
You must agree any changes in your working hours with your employer.
Keva does not monitor your earnings while you receive a partial early old-age pension and nor do you need to notify Keva of changes in your working hours or that you have stopped working.
A partial early old-age pension does not prevent you from receiving unemployment allowance.
Receiving early old-age pension and taxation of pension
You can receive a partial early old-age pension until you apply for an old-age pension or until you are granted disability pension.
You have the right to cancel your partial early old-age pension within three (3) months of the pension decision having been issued. In this case, Keva will recover the pension already paid to you. You can cancel your pension in writing by a free format message through the My Pension service or by letter.
When you retire, you will need to obtain a new tax card for pension, because pension is taxed differently from employment income.
Transition to old-age pension
You can transition from partial early old-age pension to full-time old-age pension if
- you have reached the lowest retirement age for your age group, and
you have resigned from your main job. If you have more than one employment relationship, your main job is the one from which you have received most earnings during the year preceding the transition to old-age retirement.
When you have worked while on partial early old-age pension, you will also receive the pension that has accrued for this.
An application must always be filed to receive old-age pension.
See the instructions for
- old-age pension applications as well as
- the general instructions for pension applications: How to apply or pension
Are you subject to personal or occupational retirement age?
If you have personal retirement age
If you were born before 1960 and your personal retirement age is 63–65 years, your existing accrual predating 1995 will be reduced if you take partial early old-age pension before reaching your personal retirement age.
If you have occupational retirement age
You can retire on partial early old-age pension if you have chosen the lower occupational retirement age. The number of months of early retirement which reduce your pension are calculated on the basis of the lowest retirement age for the age group and not from your occupational retirement age. The accrual predating 1995 will also be reduced.
You are not eligible for partial early old-age pension if you have already reached your occupational retirement age, but not the lowest retirement age for your age group. Instead, you are entitled to old-age pension from which no early retirement reductions will be made.
How to apply for partial early old-age pension
You should file your application for partial early old-age pension about one month before your retirement.
Apply for your pension online
Apply for your pension easily and quickly through Keva’s online My Pension service. When you log on to the service, your pension application contains most of your information – all you need to do is to check and complete the information.
- Online My Pension (available in Finnish and Swedish only)
You can also send your application by mail.
Send your pension application and enclosures to: Keva, FI-00087 KEVA