Pension
When you work, pension insurance contributions are paid from your pay. This means that you accrue your future pension by working.
The earnings-related pension is intended to secure a person’s livelihood when they retires. Sometimes people become incapacitated and can no longer work and receive pay. You can also receive a pension due to your spouse’s or parent’s death.
Your pension begins to accrue when you are 17 years old, after which a pension insurance contribution will be deducted from your pay.
If your accrued pension is low or you have not received any pay, you can receive a national pension paid by Kela and, possibly, also a guarantee pension.
Your employer will take care of your pension insurance contributions
An earnings-related pension is a mandatory insurance prescribed by law. All pay that you receive from any employer accrues your pension. Your employer will deduct the pension insurance contribution from all your wages. This deduction is specified on your payslip. Earnings-related pension contributions are paid by both the employer and the employee.
If you are self-employed, you must take out a self-employed person’s pension insurance policy.
Even if you change jobs or become self-employed or vice versa, information about your accrued pension will remain in the registers of pension providers and the Finnish Centre for Pensions. You can check your accrued pension from your pension record.