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When can I retire?

The earnings-related pension provides security for you in the event of illness and old age and for your family when you die. There are several options for retiring on an old-age pension.

When is retiring an option?

You can retire on an old-age pension flexibly based on your birth date. You can start drawing part of your old-age pension at the age of 61. A partial pension can help you reduce your workload. As a self-employed person, you can retire just like an employee.

Pension also helps if your work ability deteriorates, you want to work less or your spouse passes away.

Your birth year determines when you can retire on old-age pension

You can retire on old-age pension once you have reached your lower old-age pension age. Your pension can begin at the earliest at the start of the following month. If you retire later, your pension continues to grow. Check your retirement age in the table below.

In addition to your lower old-age pension age, you have a target retirement age and an upper old-age pension age.

  • The target retirement age is the age at which the increase for deferred retirement has increased your pension as much as the life expectancy coefficient reduces it. If you retire after the target retirement age, your pension will grow even more.
  • The upper old-age pension age is the age until which your work is insured and accrues pension for you. If you have entered a new employment relationship alongside your old-age pension, apply for the pension accrued on this employment at your upper old-age pension age.

Check your lower and upper old-age pension age and your target retirement age in the table. The table also shows you the earliest date on which you can retire on partial old-age pension or years-of-service pension. To find out your exact retirement date, go to the MyPension service and use the old-age pension calculator.

Birth
year		 Lower old-age
pension age		 Estimated target
retirement age		 Upper old-age
pension age		 Part-time
pension age		 Years of
service
pension age
1953 or
before		 63 yrs No target
retirement
age		 68 yrs 61 yrs -
1954 63 yrs 63 yrs 9 m 68 yrs 61 yrs -
1955 63 yrs 3 m 64 yrs 1 m 68 yrs 61 yrs 63 yrs
1956 63 yrs 6 m 64 yrs 5 m 68 yrs 61 yrs 63 yrs
1957 63 yrs 9 m 64 yrs 9 m 68 yrs 61 yrs 63 yrs
1958 64 yrs 65 yrs 1 m 69 yrs 61 yrs 63 yrs
1959 64 yrs 3 m 65 yrs 5 m 69 yrs 61 yrs 63 yrs
1960 64 yrs 6 m 65 yrs 9 m 69 yrs 61 yrs 63 yrs
1961 64 yrs 9 m 66 yrs 69 yrs 61 yrs 63 yrs
1962 65 yrs 66 yrs 3 m 70 yrs 61 yrs 63 yrs
1963 65 yrs 66 yrs 2 m 70 yrs 61 yrs 63 yrs
1964 65 yrs 66 yrs 3 m 70 yrs 62 yrs 63 yrs
1965 or
after		 The pension
ages has
not been
confirmed yet.
In MyPension-service's pension calculator you can estimate your pension age.

     3 yrs before
lower old-age
pension age		 2 yrs before lower old-age pension age

  1. A disability pension will automatically convert into old-age pension without a separate application. 

    If your disability began 

    • in or after 2017, the pension will convert into old-age pension at your lower retirement age. 
    • in 2006–2016, the pension will convert into old-age pension when you turn 63. 
    • in or before 2005, the pension will convert into old-age pension when you turn 65. 

    If you have worked while on a disability pension, the pension accrued on that work must be applied for separately by filling in an old-age pension application. 

    If you continue working as an entrepreneur during old-age pension, then the YEL insurance is voluntary.

    Read about how to apply for pension

Partial old-age pension at the age of 61

If you were born in or before 1963, you can retire on partial old-age pension at the age of 61. If you were born in 1964, you can retire on partial old-age pension at the age of 62. The pension age for those born in or after 1965 has not been confirmed yet. 

You can also retire on partial old-age pension even after having reached your lower old-age pension age.

Use the MyPension service’s pension calculator to find out when you can retire on partial old-age pension. Read more about the partial old-age pension.

Partial old-age pension or old-age pension according to your life situation

You can use the table below to compare different retirement options for your life situation.

Your life situation I am considering partial old-age pension I am considering old-age pension I am applying for pension after I reach the lowest old-age pension age
Full-time work
Part-time work
Temporary work
Several employment relationships
Self-employed		 Your employment relationship or self-employed activities do not need to end

If you want to reduce your working hours, confirm with your employer whether this is possible

You will receive pension in addition to salary. Pay attention to the taxation impacts, particularly if you do not reduce your working hours

Your future old-age pension will be reduced permanently if you begin drawing partial old-age pension before reaching your personal retirement age		 At least one of your employment relationships must end

Self-employed activities do not need to end

You can work while you are drawing old-age pension

If your old age pension is small, you may additionally receive national pension from Kela		 Your employment relationship or self-employed activities do not need to end when you reach the upper age limit for old-age pension

If you defer your retirement on old-age pension until after you have reached the lowest old-age pension age, your pension will be increased
Unemployed
Temporarily laid off
Sick leave		 You will receive pension in addition to your daily allowance. Be sure, however to take the taxation impacts into account

Contact Kela to determine your sickness allowance if you apply for partial old-age pension during a period of sickness allowance

Your future old-age pension will be reduced permanently if you begin drawing partial old-age pension before reaching your personal retirement age		 When you reach the old-age pension age, you can choose whether to retire on old-age pension or continue collecting the daily allowance If you are receiveng unemployment benefits, you are not entitled to the increase for deferred retirement

Survivors’ pension provides security in the event of death of a relative

If your spouse passes away, you may be entitled to a surviving spouse’s pension. If a parent passes away, children under 20 may be entitled to an orphan’s pension. The survivors’ pension begins at the start of the month following the month of death. Read more about the survivors’ pension for surviving spouses and children.

If your work ability weakens, turn to Ilmarinen for support

Vocational rehabilitation is an option when work ability weakens. If rehabilitation does not help, you can apply for a disability pension or a years-of-service pension.

  1. Pension calculator

    Use the calculator to find out when your old-age pension and partial old-age pension can begin and calculate various pension estimates.

    Log in to the MyPension service

  2. Applying for pension

    Read instructions on how to apply for different types of pension and fill in the application in MyPension-service.

    Read about applying for pension

  1. Vocational rehabilitation

    If you fall ill, it is always important to find out first if rehabilitation could be an option for you. If the conditions for rehabilitation exist, we will support you.

    Read about vocational rehabilitation

  2. Disability pension

    If your work ability has weakened due to an illness or injury and rehabilitation is not possible in your life situation, the options to be considered are a partial, fixed-term or permanent disability pension.

    Read about the disability pension

  3. Years-of-service pension

    This pension type might be a suitable option for you if you are 63 years or over. Eligibility for a years-of-service pension requires that your work ability has weakened and you have performed strenuous work for at least 38 years.

    Read more about the years-of-service pension