When does old-age pension begin?

You can retire on old-age pension once you have reached the lower retirement age – or at a later date. Your year of birth determines when you can become a pensioner. The older you are when you retire, the larger the pension you will receive.

You can retire on old-age pension at any point after you have turned the lower old-age retirement age and your current employment relationship has ended.

When you can retire depends on your year of birth. 

Your year of birth determines your retirement age

If you were born in or before 1954, the earliest you can retire is at the age of 63. If you were born in or after 1955, however, your retirement age will vary according to the year you were born in, unless you have been unemployed for a long time and you were born before 1958. In that case, you might be eligible for retirement at the age of 62.


Aim for your target retirement age

The table below shows your lower and upper retirement age, as well as your estimated target retirement age, which is when your pension will have had time to grow as much as the life expectancy coefficient has reduced it. If you retire after the target retirement age, your pension will grow even more. The estimate concerning your target retirement age becomes more accurate every year as the latest statistics on life expectancy are calculated.

You can retire at the latest at the upper old-age retirement age unless you have separately agreed on some other arrangement with your employer.

Year of birth

Lower old-age   retirement age

Estimated   target retirement age

Upper old-age   retirement age

1953 or before

63 yrs

No target retirement age

68 yrs


63 yrs

63 yrs 9 m

68 yrs


63 yrs 3 m

64 yrs 1 m

68 yrs


63 yrs 6 m

64 yrs 5 m

68 yrs


63 yrs 9 m

64 yrs 9 m

68 yrs


64 yrs

65 yrs 1 m

69 yrs


64 yrs 3 m

65 yrs 5 m

69 yrs


64 yrs 6 m

65 yrs 9 m

69 yrs


64 yrs 9 m

66 yrs 2 m

69 yrs


65 yrs

66 yrs 6 m

70 yrs


65 yrs

66 yrs 8 m

70 yrs


65 yrs

66 yrs 9 m

70 yrs

1965 or after

The life expectancy for your age group and   the length of your career are decisive factors – the latest estimate is   available on our website.


Opt for partial old-age pension

You may be in a situation in which you wish to retire before the lower old-age retirement age. The solution in this case is partial old-age pension. It is a new type of pension which allows you to retire already at the age of 61.