You will accrue a monthly amount of pension for studies leading to a vocational basic qualification or a university degree. In other words, it is not enough to merely study, you have to make sure that you also graduate.
Pension has accrued for studies leading to a degree since 2005. You accrue a pension for studies if you are aged 18 or more. To get the pension that you have accrued while studying for a degree, you have to have earned at least 18,862.62 euros (in 2022) in wages during your entire working life before your pension starts.
The pension you have accrued for a degree will be paid to you each month for the rest of your life as of when you are granted the pension.
Level of degree matters
Based on the level of your degree, you accrue pension for different periods of time:
- 3 years for a vocational basic qualification and a lower university degree,
- 4 years for a degree from a university of applied sciences,
- 3 years for a lower university degree, and
- 5 years for a higher university degree.
The time you have spent getting the degree is not what counts. Instead, depending on the level of your degree, you accrue pension for a certain period of time. For example, for a higher university degree, you accrue pension for a maximum of five years, even if it takes longer for you to graduate or you take multiple degrees. If you graduate early, you still accrue pension for the maximum time set for the degree level. If you were under 18 when you began your studies, note that you will not accrue pension for your studies under age 18.
You accrue pension also for a degree that you take abroad if you have received financial aid for your studied abroad from Finland.
How much pension?
While studying, you will accrue pension as if you had been receiving a monthly salary of 785.94 euros (in 2022). The amount has been set by the legislators and is adjusted annually with the wage coefficient.
|How much your monthly pension will grow while you study at a university of applied sciences|
|Number of months
|Monthly fixed amount that the pension accrues on||€785.94|
|Income that the benefit is based on||€785.94 x 48 months = €37,725.12|
|Your monthly pension will grow by this much||(€37,725.12 x 1.5%) ÷ 12 = €47,16|
|In this example, your monthly pension will grow by €47,16 thanks to the period that you have studied for a degree.|
|The earnings-related pension you have accrued will also be adjusted with the life expectancy coefficient determined for your age group.|
Pension will accrue for a certain period of time, depending on the scope of your degree.
|Degree||Pension accrues for||Amount of pension/month|
|basic vocational degree
lower university degree
|3 years||ca €35|
|degree from a university of applied sciences||4 years||ca €47|
|higher university degree:||5 years||ca €59|
Degrees for which your accrue no pension
Pension does not accrue for the matriculation exam, for further studies (for example, for taking a PhD) or for supplementing studies or basic degrees. Nor does pension accrue if you drop out before graduating.
You accrue pension for degrees that you have taken in 2005 or later. If you have taken a degree after the 2005 pension reform, you will accrue pension for studies done after 1 January 2005 only.
Check your pension record!
Pension that you have accrued for studies will be listed on your pension record in the spring after the year in which you graduated.
You do not accrue pension for studies done while you draw a pension (old-age pension, disability pension, years-of-service pension).
If you have graduated after retiring on an old-age pension, you may have accrued new pension for your pre-retirement period of study. You must have received your degree by the end of the month in which you turn 68 years . To get the pension, you must submit a new old-age pension claim at age 68.
If you are drawing a partial old-age pension, you accrue new pension for studies in a regular manner.