Old-age pension

You can retire on old-age pension no earlier than when you have reached your lowest retirement age. Each age group has its own retirement age, which is determined by the year of birth.

Retirement age and age when pension insurance is no longer needed:

You can retire on old-age pension no earlier than when you have reached your lowest retirement age. Each age group has its own retirement age, which is determined by the year of birth.

Retirement age and age when pension insurance is no longer needed:

Your old-age pension can start at the earliest from the beginning of the month following the month in which you reach the minimum retirement age. It is recommended to apply for the pension about two weeks before it begins.

Starting an old-age pension requires that your employment relationship ends. The pension can only start from the beginning of the month following the end of your employment.

Notify your employer in good time about your retirement and terminate your employment according to the normal notice period. Any unused vacation days must be taken and/or paid in cash before the old-age pension begins. Agree on this with your employer. If you retire only at the highest retirement age, ending your employment is not required to receive the old-age pension.

Entrepreneurial activity does not need to end when the old-age pension begins. As an entrepreneur, you can continue your business without restrictions during retirement without YEL insurance and contributions. If you wish, you can take out voluntary YEL insurance, which will allow you to accrue additional pension from your business activities.

The longer you work, the larger your pension will be. Working beyond the minimum retirement age is also rewarded with a deferment increase. If you do not retire at the minimum retirement age, you will receive a deferment increase of 0.4% for each month you postpone retirement. The deferment increase permanently raises the amount of your pension.

Read more about the amount of old-age pension and the deferment increase

Example of starting an old-age pension:

The retirement age is reached on May 15, 2026. Employment ends on May 31, 2026. The old-age pension begins on June 1, 2026.

Working While Receiving Old-Age Pension

Receiving an old-age pension requires that your employment relationship ends before the pension begins. Business activities, however, can continue. During old-age pension, you may work freely without income limits and accrue additional pension up to the highest retirement age.

A new employment contract must be made for work during old-age pension. If an employee works for their former employer immediately after the pension begins, there must be a significant change in the terms of employment. This change may concern, for example, working hours, salary, or job duties.

Remember to Apply for Pension Accrued from Work During Retirement

If you are employed while on old-age pension, your work accrues additional pension until the highest retirement age. For entrepreneurs, YEL insurance is voluntary during old-age pension. If you take out voluntary YEL insurance, your work will accrue additional pension until the highest retirement age. Pension accrual ends at the highest retirement age, but you may continue working if you wish.

If you have worked while on old-age pension, you can apply for the accrued pension starting from the beginning of the month following the month you reach the highest retirement age. Here’s how to apply for pension accrued during retirement:

1. Log in to our online service
2. Complete the old-age pension application under the Pension Applications tab
3. After receiving the pension decision, request the Tax Administration to send Elo a new tax card

Frequently Asked Questions

I am unemployed. When can I retire on old-age pension?

You can retire when you reach the minimum retirement age for your age group. You can choose whether to apply for old-age pension immediately at the minimum age or continue on unemployment benefits if you still have payment days left. Unemployment benefits can be paid until age 65.

I am on disability pension. Do I need to apply for old-age pension separately?

No. Disability pension automatically converts to old-age pension.

If you have worked during retirement, you must apply separately for the pension accrued from that work. If your work has ended, you can apply when your disability pension converts to old-age pension. If you are still working, you can apply after your work ends.

When does my disability pension convert to old-age pension?

The timing depends on when your disability pension was granted:

• At your minimum retirement age if your disability began in 2017 or later
• At age 63 if your disability began between 2006–2016
• At age 65 if your disability began in 2005 or earlier

Does my partial old-age pension automatically convert to full old-age pension?

No. Partial old-age pension continues until you apply for full old-age pension.

You can retire on old-age pension at the earliest when you reach your minimum retirement age. Your employment must end. Business activities can continue, but YEL insurance obligation ends.

My earnings-related pension is quite small. Can I get additional pension?

You may receive a national pension from Kela if you do not receive any earnings-related pension or if your pension is at most:

• €1,617.12/month if you live alone
• €1,449.12/month if you are married, in a registered partnership, or cohabiting

The age limit for Kela’s old-age pension is 65 years. Kela can also pay a guarantee pension to ensure a minimum income for low-income pensioners.

I have a supplementary pension. When can I retire?

Statutory pension security can be supplemented either by yourself or by your employer through voluntary supplementary pension.
Employer-provided supplementary pension may include a reduced retirement age, which also entitles you to statutory old-age pension at the reduced age. In these cases, you will receive a pension estimate when you send us a message via the online service for individual customers.

For more information about voluntary supplementary pension, contact the company that provided the pension or your employer.