On this page you can find all calculators available at Työeläke.fi. Use them to estimate various figures relating to your pension. The figures generated by the calculators are indicative.
Select your year and month of birth. The calculator will tell you when you can retire.
Use the pension calculator to estimate how much pension you will receive.
The pension is in the price level of the ongoing year.
Retirement age
Test how the age at which you retire affects your pension estimate.
This calculator will calculate the amount of your earnings-related pension. It doesn’t calculate your partial old-age pension or your disability or years-of-service pensions. If you are 55 or older this year, the calculator will also calculate the amount of your national and guarantee pensions if you qualify for them. You can estimate your pension using this calculator if you were born between 1954 and 2005.
The calculator will calculate your pension based on the wage you’ve entered and the laws that are valid in 2023. To get an estimation that is as close to the truth as possible, enter the amount of your accrued earnings-related pension that is stated on your pension record. Your final pension cannot be calculated until just before you retire.
If you are a wage earner, you will begin to accrue pension at age 17. If you are self-employed, the age limit is 18. The calculator will calculate your earned pension as of age 17 and under the assumption that you will not retire early. The calculator will calculate your pension to the age of 70 at the most. After that, you no longer earn more pension.
The calculator calculates your pension under the assumption that the earned pension you have entered has been adjusted with the life expectancy coefficient and does not include an increment for late retirement. If you have already reached your retirement age, the pension you have earned may include an increment for late retirement.
If you can retire during the ongoing year, you can estimate not only the amount of your starting old-age pension but also the amount of your index-adjusted pension amount for next year. You can see the index-adjusted amount for next year when you select “Assessment of index effect (nominal price level)” and your selected time of retirement is in the ongoing year. By changing your age at retirement, you can compare your index-adjusted pension for next year with the pension amount you would get were you to retire next year.
Calculator’s assumptions on wage and price development as well as extended life expectancy
You can select between two different future general wage developments in this calculator. The option in which the wage level remains unchanged corresponds to the pension record’s baseline projection of your pension. The option in which the wage level grows corresponds to the Finnish Centre for Pensions’ baseline assumption in its long-term projection.
If your pension can start during the ongoing year, you can also select to have the pension amount presented at a nominal level in addition to the price level of the ongoing year. In the alternative with the nominal price level, the projected price development corresponds to the baseline projection of the long-term projection of the Finnish Centre for Pensions.
According to the baseline assumption, the earnings level grows by 1.2 per cent and the consumer price index by 2.0 per cent per year real term. The near-future economic outlook has been taken more closely into account in the calculator. The wage coefficient that your pension is adjusted with to the level of the year in which your pension begins is calculated based on the general wage and price development. Long-term, the real-term annual development is around 1.0%.
The calculator assumes that your earnings grow each year in line with the wage coefficient. That is why your earnings grow slightly less than the average wages of wage earners since the wage coefficient takes into account 80% of the general growth in earnings.
The calculator presents your assumed pension amount in current prices. The euro amount thus reflects the effect of the wage coefficient adjustment and the growth of your own earnings on your pensions’ purchasing power. If you reach your retirement age during the ongoing year, you can assess your pension also at a nominal price level. In that case, the assessment includes the impact of the projected price development.
The extended life expectancy that affects the projected retirement ages and life expectancy coefficient are based on the population forecast of Statistics Finland.
The assumptions used by the calculator regarding the life expectancy coefficient, the retirement age and the general earnings and price development are listed in this excel file.
Retirement age
Each birth year group has its own retirement age. The retirement age for those born in 1965 and later is based on the currently estimated life expectancy. The projection is based on Statistics Finland’s population forecast for 2021. Read more about how the retirement ages are determined
Earning a pension and age at when your insurance obligation ends
Your earnings-related pension pot grows by 1.5 per cent of your annual earnings. If you are between 53 and 62 years old, your pension pot will grow by 1.7% of your annual gross wages between the years 2017 and 2025. If you retire late (after you have reached your retirement age), your pension will be increased by an increment for late retirement (0.4% for each month that you retire late).
The age when you stop paying pension insurance and your pension pot no longer grows will rise from 68 to 69 (for those born between 1958 and 1961) and 70 (for those born in 1962 and after).
Life expectancy coefficient
When you retire, your pension pot will be adjusted with the life expectancy coefficient, which depends on your year of birth. The life expectancy coefficient for your age group will be confirmed when you turn 62 years. If you are younger than that, it is an estimate. The estimate is based on Statistics Finland’s population forecast for 2021.
Wage coefficient
When the amount of your starting pension is calculated, your income from work and self-employment during your working life will be adjusted with the wage coefficient to the level of the year in which you retire. The wage coefficient ensures that the pension you have earned during your working life retains its value. The wage coefficient takes into account 80% of the changes the index of wage and salary earnings and 20% of the changes in the consumer price index.
Kela pensions
You can get a national or guarantee pension from Kela if you have no or only a small earnings-related pension. Every euro of earnings-related pension that you get will reduce your full national pension by 50 cents until there is no national pension left to pay. Your national pension depends on whether you live alone or with a spouse. You get a guarantee pension if your total pension is below the full amount of the guarantee pension. Apart from the earnings-related pension, the calculator does not take into account other pensions that may affect your national or guarantee pension.
All components of your earnings-related pension do not reduce your national pension. The increment for late retirement does not reduce your national pension, but the calculator takes all other components of your earnings-related pension into account as factors reducing your national pension.
In the national pension scheme, the retirement age is 65 years. As of those born in 1965, the retirement age will be linked to life expectancy, just as in the earnings-related pension scheme. The calculator counts the reduction for early retirement (0.4% per month that you take the pension early) for both the national and the guarantee pension if you retire before you reach the retirement age of the national pension. The calculator also calculates an increase for late retirement if you retire after reaching the retirement age of the national pension. If you were born before 1962, the increment for late retirement is 0.6% for each month that you postpone your retirement and 0.4% if you were born in 1962 or after.
The calculator calculates your Kela pension providing you have lived long enough in Finland to qualify for a full national pension (80% of the time between you turned 16 and when you retire).
In the future, the national and the guarantee pension are expected to develop in line with the price index. In real terms, the Kela pension is at the current level in the calculator.
For more information on the national pension and the guarantee pension, go to Kela’s website.
By year-end 2022, the different age groups had accrued a median pension as shown in the table below. This means that half of each age group had accrued a higher and half a lower pension than the figure shown in the table for the age group. The accrued median pension has been presented separately for men, women and the combined total.
The accrued pensions have been adjusted with the wage coefficient to the 2023 level and multiplied with the life expectancy coefficient for each birth year.
The data of the table can be used in the calculator, for example, as an estimate of the previously accrued pension. For a more detailed information on your own accrued pension, check your pension record.
Estimate of the accrued pension at year-end 2022, median, €/month
Birth year | Men | Women | Total |
---|---|---|---|
2005 | 1 | 1 | 1 |
2004 | 4 | 3 | 4 |
2003 | 13 | 11 | 12 |
2002 | 22 | 23 | 23 |
2001 | 34 | 34 | 34 |
2000 | 50 | 52 | 51 |
1999 | 69 | 74 | 72 |
1998 | 92 | 96 | 94 |
1997 | 123 | 127 | 125 |
1996 | 154 | 156 | 155 |
1995 | 186 | 189 | 188 |
1994 | 224 | 223 | 223 |
1993 | 258 | 254 | 256 |
1992 | 295 | 284 | 289 |
1991 | 333 | 315 | 324 |
1990 | 374 | 345 | 357 |
1989 | 413 | 380 | 394 |
1988 | 456 | 417 | 433 |
1987 | 505 | 448 | 472 |
1986 | 550 | 484 | 511 |
1985 | 590 | 509 | 544 |
1984 | 634 | 533 | 574 |
1983 | 668 | 561 | 603 |
1982 | 698 | 583 | 630 |
1981 | 735 | 610 | 662 |
1980 | 791 | 640 | 702 |
1979 | 842 | 681 | 748 |
1978 | 900 | 715 | 791 |
1977 | 962 | 752 | 839 |
1976 | 1008 | 789 | 882 |
1975 | 1063 | 819 | 923 |
1974 | 1098 | 847 | 954 |
1973 | 1137 | 870 | 985 |
1972 | 1191 | 901 | 1025 |
1971 | 1232 | 939 | 1060 |
1970 | 1266 | 972 | 1095 |
1969 | 1317 | 1012 | 1140 |
1968 | 1376 | 1074 | 1203 |
1967 | 1428 | 1138 | 1261 |
1966 | 1482 | 1195 | 1318 |
1965 | 1549 | 1260 | 1380 |
1964 | 1613 | 1321 | 1443 |
1963 | 1678 | 1365 | 1493 |
1962 | 1750 | 1429 | 1561 |
1961 | 1801 | 1473 | 1604 |
1960 | 1853 | 1530 | 1657 |
1959 | 1889 | 1568 | 1694 |
The statistics includes data of persons who reside in Finland, are insured for an earnings-related pension and who have not retired. The accrued pension for each age group is based on the data for year-end 2021. It has been adjusted to the level at year-end 2022 according to each age group’s previous development.
If you can retire during the ongoing year, you can estimate not only the amount of your starting old-age pension but also the amount of your index-adjusted pension amount for next year.
For example, you can compare the amount of your pension if you retire in December 2023 or January 2024. For comparable results, select the nominal price level in all calculations.
- Calculate how much your monthly pension would be if it were to start in December 2023 and how much your index-adjusted pension that would start in January 2024 would be.
- Calculate how much your pension that would start in 2024 would be by selecting a higher age at retirement.
- Compare the results with each other.
The calculator also calculates how much your partial old-age pension affects your later old-age pension.
The pension is in the price level of the ongoing year.
Earliest possible age at which you can take out the partial old-age pension
Test how the age when you start drawing the partial old-age pension affects the estimate.
The pension is in the price level of the ongoing year.
Retirement age
Test how the age at which you retire affects your pension estimate.
This calculator will calculate the amount of your partial old-age pension and the amount of your full old-age pension after you’ve taken out a partial old-age pension. For comparison, the calculator also calculates how much your full old-age pension would be had you not taken out a partial old-age pension.
If you are 55 or older this year, the calculator will also calculate the amount of your national and guarantee pensions, if you qualify for them. You can estimate your pension using this calculator if you were born between 1957 and 2005.
The calculator will calculate your pension based on the wage you’ve entered and the laws that are valid in 2023. To get an estimation that is as close to the truth as possible, enter the amount of your accrued earnings-related pension that is stated on your pension record. Your final pension cannot be calculated until just before you retire.
If you are a wage earner, your pension will start to grow as of age 17. If you are self-employed, the age limit is 18. The calculator will calculate your earned pension as of age 17 and under the assumption that you will not retire early. The calculator will calculate your pension to the age of 70 at the most. After that you no longer earn more pension.
The calculator calculates your pension under the assumption that the earned pension you have entered has been adjusted with the life expectancy coefficient and does not include an increment for late retirement. If you have already reached your retirement age, the pension you have earned may include an increment for late retirement.
If you can retire on a partial old-age pension during the ongoing year, you can estimate not only the amount of your starting pension but also the amount of your index-adjusted pension for next year. You can see the index-adjusted amount for next year when you select “Assessment of index effect (nominal price level)” and your selected time of retirement is in the ongoing year. By changing your age at retirement, you can compare this estimated index-adjusted pension amount for next year with the estimated amount for your pension were you to retire next year. The amount of your index-adjusted partial old-age pension is not stated if your old-age pension begins during the ongoing year or in January next year since, in that case, you will no longer be paid a partial old-age pension next year.
Calculator’s assumptions on wage and price development as well as extended life expectancy
You can select between two different future general wage developments in this calculator. The option in which the wage level remains unchanged corresponds to the pension record’s baseline projection of your pension. The option in which the wage level grows corresponds to the Finnish Centre for Pensions’ baseline assumption in its long-term projection.
If your pension can start during the ongoing year, you can also select to have the pension amount presented at a nominal level in addition to the price level of the ongoing year. In the alternative with the nominal price level, the projected price development corresponds to the baseline projection of the long-term projection of the Finnish Centre for Pensions.
According to the baseline assumption, the earnings level grows by 1.2 per cent and the consumer price index by 2.0 per cent per year real term. The near-future economic outlook has been taken more closely into account in the calculator. The wage coefficient that your pension is adjusted with to the level of the year in which your pension begins is calculated based on the general wage and price development. Long-term, the real-term annual development is around 1.0%.
The calculator assumes that your earnings grow each year in line with the wage coefficient. That is why your earnings grow slightly less than the average wages of wage earners since the wage coefficient considers 80% of the general growth in earnings.
The calculator presents your assumed pension amount in current prices. The euro amount thus reflects the effect of the wage coefficient adjustment and the growth of your own earnings on your pensions’ purchasing power. If you reach your retirement age during the ongoing year, you can assess your pension also at a nominal price level. In that case, the assessments include the impact of the projected price development.
The extended life expectancy that affects the projected retirement ages and life expectancy coefficient are based on the population forecast of Statistics Finland.
The assumptions used by the calculator regarding the life expectancy coefficient, the retirement age and the general earnings and price development are listed in this excel file.
Retirement age for partial old-age pension
The retirement age for a partial old-age pension is 61 years if you were born before 1964. If you were born in 1964, the retirement age is 62 years. If you were born in 1965 and later, your retirement age is linked to changes in life expectancy. The retirement age is based on the current projection of the extending life expectancy. The projection is based on the 2021 population projection of Statistics Finland. Read more about how the retirement ages are determined
Retirement age for old-age pension
Each birth year group has its own retirement age. If you were born in 1965 and later, your retirement age is based on the currently estimated extended life expectancy.
Earnings-related pension accrual and age at when your insurance obligation ends
Your earnings-related pension grows by 1.5 per cent of your annual earnings. If you are between 53 and 62 years old, your pension will grow by 1.7% of your annual gross wages between the years 2017 and 2025. If you retire late (after you have reached your retirement age), your pension will be increased by an increment for late retirement (0.4% for each month that you defer retirement). Pension accrues also for work you do while receiving a partial old-age pension.
The age when you stop paying pension insurance and your pension no longer grows will rise from 68 to 69 (for those born between 1958 and 1961) and 70 (for those born in 1962 and after).
Calculating a partial old-age pension
Your partial old-age pension is based on the earnings-related pension that you have accrued by the end of the year before the year in which you take out a partial old-age pension. When you retire on a partial old-age pension, you can draw 25% or 50% of the pension that you have accrued up to that time. Retiring on an old-age pension early will permanently reduce your future pension by 0.4% for each month from when you start drawing your pension to the month after you reach your retirement age.
Life expectancy coefficient
The accrued pension is adjusted with the life expectancy coefficient, which depends on your year of birth. The life expectancy coefficient for your age group will be confirmed when you turn 62 years. If you start drawing your partial old-age pension at age 61, the life expectancy coefficient confirmed for the year in which your partial old-age pension starts is used.
For the younger age groups, the life expectancy is a projection. The projections are based on the 2021 population projections of Statistics Finland.
Wage coefficient
When the amount of your starting pension is calculated, your income from work and self-employment during your working life will be adjusted with the wage coefficient to the level of the year in which you retire. The wage coefficient ensures that the pension you have earned during your working life retains its value. The wage coefficient takes into account 80% of the changes the index of wage and salary earnings and 20% of the changes in the consumer price index.
Kela pensions
You can get a national or guarantee pension from Kela if you have no or only a small earnings-related pension. If you get only a partial old-age pension, you cannot get a Kela pension. That is why the calculator estimates the Kela pension only for the old-age pension. Every euro of earnings-related pension that you get reduces your full national pension by 50 cents until there is no national pension left to pay. Your national pension depends on whether you live alone or with a spouse.
You get a guarantee pension if your total pension is below the full amount of the guarantee pension. Apart from the earnings-related pension, the calculator does not consider other pensions that may affect your national or guarantee pension.
When your national pension amount is calculated, the reduction for early partial old-age pension is added to the amount of your earnings-related pension. That way, the national pension does not compensate for the reduction of the earnings-related pension caused by early retirement. The increment for late retirement is not considered when calculating your national pension, so the national pension does not reduce as a result of the increment for late retirement.
The calculator takes all other components of your earnings-related pension into account as factors reducing your national pension. When calculating the guarantee pension, the earnings-related pension paid is considered in full.
In the national pension scheme, the retirement age is 65 years. As of those born in 1965, the retirement age will be linked to life expectancy, just as in the earnings-related pension scheme. The calculator counts the reduction for early retirement (0.4% per month that you take the pension early) for both the national and the guarantee pension if you retire before you reach the retirement age of the national pension. The calculator also calculates an increase for late retirement if you retire after reaching the retirement age of the national pension. If you were born before 1962, the increment for late retirement is 0.6% for each month that you postpone your retirement and 0.4% if you were born in 1962 or after.
The calculator calculates your Kela pension providing you have lived long enough in Finland to qualify for a full national pension (80% of the time between you turned 16 and when you retire).
In the future, the national and the guarantee pension are expected to develop in line with the price index. In real terms, the Kela pension is at the current level in the calculator.
For more information on the national pension and the guarantee pension, go to Kela’s website.
If you can retire on a partial old-age pension during the ongoing year, you can estimate not only the amount of your starting pension but also the amount of your index-adjusted pension for next year. The partial old-age pension calculator cannot calculate your index-adjusted pension amount if your old-age pension begins in 2023 or in January 2024 since, in that case, you will no longer be paid a partial old-age pension in 2024.
For example, you can compare the amount of your pension if you retire in December 2023 or January 2024. For comparable results, select the nominal price level in all calculations.
- Calculate how much your monthly pension would be if it were to start in December 2023 and how much your index-adjusted pension that would start in January 2024 would be.
- Calculate how much your pension that would start in 2024 would be by selecting a higher age at retirement.
- Compare the results with each other.
Estimate the amount of your survivors’ pension
The calculator estimates the share of the deceased spouse’s or breadwinners pension paid to the surviving spouse and the orphans (beneficiaries), as well as the reduced surviving spouse’s pension
Estimate your confirmed income from self-employment with calculator
The calculator recommends your confirmed income from self-employment and its flexibility. The recommendation is indicative.
The calculator calculates the amount of pension benefits you earn for periods of child care and the amount of pension benefits you would earn from work during that same period. The amounts provided by the calculator are indicative.
The calculator calculates the amount of pension you earn for family leaves based on the valid legislation in 2023. The amounts given by the calculator are indicative.
You earn pension for periods of child care based on the parental allowance or child home care allowance that you receive. Parental leave allowances include the maternity, special maternity, paternity and parental allowance (up to 1 August 2022) and the pregnancy, special pregnancy and parental allowance (as of 1 August 2022). You get the new type of parental allowances if you are expecting a baby whose due date is 4 September 2022 or later.
The calculator calculates the pension that you accrue based on the family leave allowances that you are paid for one child (or one birth). Each parent calculates the earned pension for their own part.
The calculator calculates the pension earned for periods of parental leave if you were born between 1973 and 2005. The life expectancy used in the calculation is based on your year of birth. By limiting the calculation per age group, it has been possible to simplify the calculator.
The amount of pension you have accrued for children born earlier is listed on your pension record. As a recipient of family leave allowances, you earn pension for periods of child care if you have received earnings insured under the earnings-related pension insurance acts to an amount of at least 19,578.92 euros (in 2023 prices) before the year in which you retire.
The calculator assumes that the general earnings and price level and your own earnings level remain at the same level as they were when you used the calculator. The calculator does not take into account special situations, for example, if you work while you are on a child care leave or if your pension is based on an earnings level determined before 2020.
For more information on allowances paid during family leaves, for how long the allowances are paid and how they are determined, visit Kela’s website.
How does your pension grow during periods on the parental allowance?
For periods on the parental allowance, you earn pension based on the annual earnings that your parental allowance is based on. Your annual income is calculated for the 12 calendar months before the calendar month in which your right to the parental allowance begins.
Your annual earnings include wage and salary income, salary for insurance purposes, YEL and MYEL income, certain benefits and certain benefits for loss of earnings. As a rule, Kela gets your earnings data from the Incomes Register or the insurance providers. Kela provides your earnings basis that is needed for calculating your pension. You can check your wage data from the Incomes Register.
When calculating your pension, your annual earnings are reduced by the insurance contribution deduction (10.01% in 2023). Your pensionable earnings (earnings that your pension is based on) is multiplied by 1.21. You accrue pension at an annual rate of 1.5 per cent. Your accrued pension is multiplied by the life expectancy coefficient of your age group.
If you have no previous earnings and your parental allowance is therefore the amount of the minimum daily allowance, or if your monthly pensionable earnings (multiplied by 1.21) are less than 815.78 euros, your pension for periods of child care is always based on monthly earnings of at least 815.78 euros (in 2023). The calculator does not consider situations in which you are paid a minimum daily allowance because you work or for some other reason.
Your pension accrues from an earnings basis multiplied by 1.21 also if your employer pays you a wage while you receive a parental allowance. You accrue pension for your wage in the regular manner while the basis of your allowance is multiplied by a factor of 0.21. Since wages you are paid during periods of the parental allowance does not significantly affect the amount of pension you earn, the calculator does not separately consider the wage you are paid while receiving a parental allowance.
Pension during period of child home care allowance
Under a special act you earn a benefit for periods of taking care of your own child under the age of three. The benefit is paid out in connection with the payment of your earnings-related pension. The benefit is based on a fixed monthly amount of 815.78 euros (in 2023). You accrue the benefit at an annual rate of 1.5 per cent. The accrued pension is multiplied by the life expectancy coefficient of your age group.
If you receive a national pension, this benefit does not reduce that pension (the way earnings-related pensions do).
Pension for work
For comparison, the calculator calculates the pension you receive for periods of child care and the pension you would receive if you were working or self-employed. You accrue pension at a rate of 1.5 per cent of your annual gross earnings. Your accrued pension is multiplied by the life expectancy coefficient of your age group.
The calculator assumes that the basis for your pension from work and periods of parental leave is the same, that is, the wage you have entered into the calculator. The calculator does not take account of situations in which your wage deviates from the previous income that your allowance is based on or situations in which the basis of your allowance includes also benefit income.