You can retire on a partial old-age pension as of age 61. you can choose to take out 25% or 50% of the pension funds that you have accrued so far.
If you take out a part of your pension early (before you reach your retirement age), the part of your pension that you take will be permanently reduced by 0.4% for each month from when you start drawing your pension to the month after which you reach your retirement age. For example, if you take out your partial old-age pension one year early, the part that you take will be reduced by 4.8 per cent.
If you choose to take 25% of your pension, you can later increase it to 50%. If you choose to take 50%, you cannot reduce that to 25%. You cannot take the partial old-age pension retroactively. You can cancel it within three months from when the pension was granted, but in that case you have to pay back the pension that you have been paid. You cannot suspend the payment of your partial old-age pension, nor can you terminate it.
Before you apply for a partial old-age pension, contact your pension provider to find out how much pension you will get, as well as the tax administration to find out how your earnings and your pension will be taxed.
If you are self-employed and you continue working in your own business while receiving a partial old-age pension, you must have valid insurance under the Self-employed Persons’ Pensions Act.
Claim your pension online or with the pension claim form
The partial old-age pension is a pension benefit that is paid only from the earnings-related pension scheme. Fill out the online claim form. Get started by clicking the button “Log in” You will be forwarded to your own pension provider’s application service.
If your own pension provider does not offer an online application service, you can fill in a paper from or print out a form (2021e) that you have filled in online.
When can I not be granted a partial old-age pension?
You cannot get a partial old-age pension if you get any other earnings-related pensions from Finland based on your work, the farmers’ early retirement aid or if your disability pension is dormant because you are working.
Changes in age limits
If you were born in 1964, you can take out a partial old-age pension once you have turned 62. If you were born after 1964, you can take out a partial old-age pension three years before your own retirement age at the earliest.
Apply for your old-age pension separately
If you are drawing a partial old-age pension, you have to apply for your full old-age pension separately. You can apply for it at any point between your retirement age and the age when your insurance obligation ends.
If you are an employee, you have to resign from your work before you start drawing your old-age pension. If you wish to do some work while drawing your old-age pension, your employer has to insure you for that work. You can apply to your pension provider for this new pension to be paid once you have reached the age when your insurance obligation ends. There is no limit to how much you can earn while for work that you do in retirement.
If you are self-employed, you can claim your old-age pension and continue your self-employment. In that case, you will not be able to continue paying statutory pension insurance. If you wish, you may, but you do not have to, insure your continued work with voluntary pension insurance.