Taxation of Pension
Pension is taxable income. We need a pension tax card for the taxation of your pension.
If you are a new pension recipient or if the amount of your pension changes, order a tax card from the Tax Administration. After the first year of pension payments, we will receive your withholding tax rate directly from the Tax Administration.
On this page
Request the tax card after the pension decision
Once you have received the pension decision, order a pension tax card. You can get the tax card through the Tax Administration’s online service MyTax
40% tax will be withheld from your pension if we do not have your tax information before the first pension payment. We will refund the excess withheld tax to your account about one week after the pension tax card has arrived at Elo. Tax refunds are only possible for pensions paid during the current year.
Instructions for ordering the tax card
The Tax Administration will assist you with taxation and ordering the tax card via OmaVero.fi or by phone at 029 497 000.
Quick guide to applying for a pension tax card
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Log in to MyTax
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Order a new tax card by completing the full application
When applying for a pension tax card, it is not recommended to choose the short application. -
Check the background information as well as the pre-filled income and deductions
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Enter your pension details under the section Other income
- Select Yes under Pensions and Add new pension
- If you have multiple pensions, complete a separate specification for each
- From the menu, choose Elo Mutual Pension Insurance Company as the payer and indicate which pension you receive
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Report any possible deductions
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Check the validity period and delivery method of the tax card
- Ensure that the validity period of the tax card and the pension start date match
- The Tax Administration will send the tax card to us. You do not need to deliver the tax card to Elo yourself.
Keep these points in mind when providing your pension details for ordering a tax card:
- If you apply for a tax card in the middle of the year, also report the pensions and any other income already paid during that year. You can check the details of your pension from Elo in the Payments section of the online service.
- If you receive a pension that includes statutory pension paid retroactively from the previous year, change the start date to a date from last year. For example, if you apply for a tax card in 2025 and your pension started on 1 April 2024, enter this date as the start date for the tax card.
- If your pension payments end during the year, change the end date to the day when the pension is paid for the last time that year.
How much tax do I pay on my pension?
The tax rate is influenced by factors such as earned income, including pensions and salaries, as well as your municipality of residence and any possible deductions. The Tax Administration will assist you with tax matters, so please always contact them regarding tax issues.
See the Tax Administration’s examples of tax rates
We report the pensions we have paid to the Tax Administration at the turn of the year
You do not need to report paid pensions to the Tax Administration yourself; we do it for you at the turn of the year. We send you the corresponding information annually in a notification letter. You can also always check it in our online service.
After the first year of pension payments
After the first year of pension payments, we receive your withholding tax rate directly from the Tax Administration. The Tax Administration also sends it to you for your information. You do not need to provide this information to us separately.
Check your withholding tax rate with the Tax Administration if your pension amount or other income changes.
Elo uses tax information provided by the Tax Administration. Contact the Tax Administration directly if you need details about your tax rate or want, for example, to lower it. Increasing the tax rate can be done in our online service.
You can increase your pension tax rate in our online service
You can increase your earnings-related pension tax rate if you want to pay more withholding tax than what the Tax Administration has indicated. Increase the tax rate in our online service.
Lowering the tax rate is not possible by your own notification; you must request a tax card from the Tax Administration.