Old-Age Pension

The old-age retirement age specified by the National Pensions Act is 65 years. In addition, it is required that

• you live in Finland or have lived in Finland at least 3 years after reaching the age of 16
• other pensions or benefits you receive may not exceed a certain limit.

Kela grants old-age pensions upon application starting from the beginning of the month following the applicant's 65th birthday. Applications can be backdated up to 6 months.

If you receive Disability Pension or Unemployment Pension, Kela will automatically convert these pensions into an old-age pension when you reach the age of 65 years.

In addition to old-age pension, you can also be paid Child Increase, Care Allowance for Pensioners, Housing Allowance for Pensioners and Front-Veteran’s Supplement.

You can choose early retirement at the earliest from the beginning of the month following your 62nd birthday. If you take early retirement, your pension will be permanently smaller than if you had retired at 65. It is decreased by 0.4% for each month by which you retire early. If you start your pension immediately at age 62, your pension will be 14.4% smaller than it would have been at 65.

If you start your old-age pension later than the beginning of the month following your 65th birthday, your pension will be increased by 0.6% for each month by which you postpone your pension. There is no maximum limit to the amount by which your pension can be increased.