Working alongside partial early old-age pension
The eligibility for partial early old-age pension is not bound to your working status. You can continue working as usual or you can opt to reduce your working hours. You also have the right to this pension even if you are not working at all. The pension provider does not monitor your earnings or the amount of work you do, since neither has any effect on the amount of the partial early old-age pension.
If you become ill or unemployed during the time when you are receiving the partial early old-age pension, the payments of this pension will continue regardless of your situation. Partial early old-age pension does not affect the amount of the Basic Unemployment Allowance received from Kela
, the earnings-related unemployment allowance from an unemployment fund or the sickness allowance from Kela. The partial early old-age pension may, however, affect your labour market subsidy. Further information about the labour market subsidy and other benefits from Kela are available from Kela.
If you are a self-employed person and your entrepreneurial activities will continue after you begin receiving your partial early old-age pension, your YEL insurance policy must remain valid. You will determine your YEL income on the basis of your work input as usual. An employee’s employment relationship must also be insured alongside partial early old-age pension.
Additional old-age pension will accrue from work done alongside partial early old-age pension or, correspondingly, from YEL income at a rate of 1.7% per year up until one turns 63, after which the accrual rate is reduced to 1.5% per year.