Blogs

30.6.2020 Liisa-Maria Palomäki

How does the quality of life of older Finnish citizens compare to that of older citizens in Europe?

Older people in Finland are forced to give up on things they want to do because of shortage of money and family responsibilities slightly more often than their Swedish and Danish counterparts. Nevertheless, such problems are considerably less common in the Nordic countries than in Eastern and Southern European countries. Things are left undone more often due to shortage of money than family responsibilities.

28.5.2020 Arie Riekhoff

Low-skilled older workers and early exit from the labour market: It’s not just who you are and where you work, but also whom you work with

In Finland, like in most other advanced industrialised countries, low-skilled older workers are at a higher risk of early exit from the labour market than their higher-educated peers. To extend these workers’ working lives, relying on their own responsibility or implementing more government policies alone will not be enough: the help of employers is needed.

13.11.2019 Anu Polvinen

Working old-age pensioners are satisfied with their life

Post-retirement work has become more common in Finland and in other countries in recent years. Older people who continue working after retirement have been found to be happier and healthier than those who are not working. This blog clarifies the association between post-retirement work and life satisfaction in Finland. The results are based on a postal survey conducted by the Finnish Centre for Pension in the autumn of 2017.

3.10.2019 Kati Kuitto

Overlooked issues of pension adequacy in the spotlight

Providing also future generations of EU citizens with adequate pensions requires a holistic approach. Commonly agreed indicators play a key role in monitoring pensioners’ economic well-being and developing targeted policy measures.

16.5.2019 Arie Riekhoff

Finland’s policy-makers should focus on lifting older men’s employment rates

While negotiations to form a new Finnish government are ongoing, various commentators are pleading for the new government to be ambitious in its goals to raise employment levels. Only the question is: whose employment levels and by what measure? Some groups in Finnish society are doing well when compared the same groups in other countries, …

15.4.2019 Niko Väänänen

Should parenthood be credited in pensions?

Pensions are intergenerational contracts. In recent decades, many European countries have witnessed low fertility rates, which has put pressure on that contract. Although many assume that they have paid their own pension, this is not the case. When we pay pension contributions, we mostly pay the pensions of the previous generation. Only on a minor …

10.1.2019 Kesälä Meeri

Pension sustainability is more than liabilities and assets

Is the Finnish pension scheme in debt as only 29 per cent of its liabilities are covered by investment assets? Looking at it from another angle, the funding balance is 98 per cent. How can the figures be so different?

21.11.2017 Niko Väänänen

The size of pension funds in different countries

We recently updated our comparative data representing the size of pension funds in different countries in relation to the country’s GDP. We included funds of both statutory (1st pillar) and occupational (2nd pillar) pension schemes. As a reader’s guide we would like to briefly explain some of the different funding mechanisms. 1. Liquidity funds Every …

11.4.2017 Mika Vidlund

Flexible retirement eroding the cliff-edge between work and retirement?

In its latest pension reform, Finland relaxed the rules for retirement, giving people more freedom to combine work and retirement. By introducing a new partial pension, Finland is following the old-age pension scheme design of Sweden and Norway. So far, the experiences from all three countries indicate that people want to combine work and retirement …

8.2.2017 Kati Kuitto

Divided Europe in terms of pensioners’ economic welfare

Pensioners in Europe have considerably more money to spend today than in the early 2000s. The poverty rate has gone down by around 20%, and the gap in income between pensioners and working-age people has become narrower. These are all good news about pensioners’ economic welfare in Europe. But if we look at this from …