National and guarantee pensions supplement small earnings-related pensions

For the majority of retirees living in Finland, the earnings-related pension is the main source of income. The pension can consist of different components: the earnings-related pension, the national pension, the guarantee pension and a pension from abroad.

If you have earned no or only a small earnings-related pension, you may get a national pension. To get a national pension, you have to be covered by Finnish social security. You must also have lived in Finland for at least 3 years since your 16th birthday.

The full national pension is 662.86 euros per month (in 2020). If you are married or live in a domestic partnership or a registered partnership, your full national pension is 591.79 euros (in 2020). The national pension is reduced as your earnings-related pension grows.

The guarantee pension offers you a minimum pension. All other pensions that you receive in Finland and from abroad affect the amount of the guarantee pension that you may receive. You will get the full guarantee pension (€834.52/month in 2020) only if you do not receive any other pensions.

Examples of national and guarantee pensions

In the following examples, the national pension and the guarantee pension have been calculated under the assumption that all earnings-related pension income reduces the national pension.

The earnings-related pension has been adjusted with the life expectancy coefficient. The total pension is combined earnings-related, national and guarantee pensions that they receive per month. Taxes have been calculated assuming that the person’s monthly income has been of the same amount throughout the year.

Earnings-related pension e/monthNational pension e/monthGuarantee pension e/monthTotal pension e/monthTaxes and contributions e/month  Taxes and contributions % of gross pensionNet pension e/month
066317283500835
1006419483500835
2005914483500835
300541084100841
400491089100891
500441094100941
6003910991101981
700341010412931011
800291010914941042
900241011416861073
1000191011918871103
11001410124110891133
12009101291129101162
13004101341149111192
1400001400174121226
1500001500215141285
1800001800335191465
2100002100452221648
2400002400562231838
3000003000803272197
40000040001239312761

Taxes and comparable payments have been calculated according to the final taxation in 2020. The municipal tax rate is 19,97 and the pensioner’s medical care contribution is 1.65. The Church tax rate has been excluded from the calculation.

A public service broadcasting tax of 2.50 per cent, or a maximum of 163 euros per year, is levied on the pension. The taxation has been calculated assuming that the person has no other income than the earnings-related, national and guarantee pensions.

Earnings-related pensions also include components which do not reduce the national pension. They include, for example, the increase for late retirement and the pension accrued at a rate of 4.50 per cent before 2017.

National pensions and guarantee pensions drawn before the age of 65 are reduced for early retirement by 0.40 per cent per month taken early.

Earnings-related pension e/monthNational pension e/monthGuarantee pension e/monthTotal pension e/monthTaxes and contributions e/monthTaxes and contributions % of gross pensionNet pension e/month
059224383500835
10057016583500835
20052011583500835
3004706583500835
4004201583500835
500370087000870
600320092000920
700270097020968
80022001020212999
900170010704141029
1000120011206051060
110070011707971091
1200200122010081120
1300001300133101167
1400001400174121226
1500001500215141285
1800001800335191465
2100002100452221648
2400002400562231838
3000003000803272197
40000040001239312761

Taxes and comparable payments have been calculated according to the final taxation in 2020. The municipal tax rate is 19.97 and the pensioner’s medical care contribution is 1.65. The Church tax rate has been excluded from the calculation.

A public service broadcasting tax of 2.50 per cent, or a maximum of 163 euros per year, is levied on the pension. The taxation has been calculated assuming that the person has no other income than the earnings-related, national and guarantee pensions.

Earnings-related pensions also include components which do not reduce the national pension. They include, for example, the increase for late retirement and the pension accrued at a rate of 4.50 per cent before 2017.

National pensions and guarantee pensions drawn before the age of 65 are reduced for early retirement by 0.40 per cent per month taken early.

For more information on the national and the guarantee pensions, contact the Social Insurance Institution of Finland (Kela).