Payment of pension and payment dates
Your pension will be paid into your account on the first banking day of each month. You can view the amount of your pension, the withholding of tax and the payment date in Ilmarinen’s MyPension service.
Where is pension paid to and when?
Your first pension will be paid into your account within around one week of having received a pension decision from us. If your pension has not yet begun, the pension will be paid into your account on the first banking day of the month in which your pension starts. A banking day means a day during which banks are open.
Thereafter, your pension will be paid into your account once a calendar month, always on the first banking day of the month. If the first day of the month is a Saturday or a public holiday, the pension will arrive in your account on the following weekday. The law dictates that we cannot pay the pension in the preceding month.
Pension payment dates
Change of account number or address
If your account number changes, report your new account number to us in our MyPension service. You may also send us your new account number in a letter that includes your personal identity code and signature.
You do not need to do anything if your address changes. We will receive the information on your new address from the Digital and Population Data Services Agency within around one month. If you wish, you can inform us of your new address in our MyPension service.
Payment of pension abroad
Your pension or rehabilitation benefit can also be paid to your foreign bank account. If pension is paid to a country outside the EU and EEA, the Finnish intermediary bank deducts an intermediary fee from the pension. The foreign receiver bank may deduct fees from the pension also when the pension is paid to an EU or EEA country. To find out how much a foreign bank’s fees are, contact your bank directly.
Check the correct payment details from your foreign bank
For payments abroad, we require the following information:
- Your account number in the international IBAN format
- Your foreign bank’s BIC or SWIFT code
Taxation of pensioners living abroad
Withholding tax is deducted from pensions paid abroad. The withholding tax amount depends on, among other things, your citizenship, the duration of your stay abroad and the tax treaties between your country of residence and Finland.
Those who have lived abroad for three years in addition to the year of their relocation are usually considered to reside permanently abroad. As a rule, they have limited tax liability in Finland. We will receive the pension tax card for those with limited tax liability from the tax authority. If you have just moved abroad, you have general tax liability and you must apply to the Finnish tax authority for a pension tax card.
Submit your information to us once a year
We annually check the information of our pension recipients living abroad to avoid undue pension payments. Notify us immediately if your address abroad changes.
At the turn of the year, we will send you a residence questionnaire that you must fill in and return to us by the end of February in order for the payment of your pension to continue without interruption. The questionnaire is not sent to countries whose authorities provide us with the necessary information, such as the Nordic countries and Germany.
If your retirement starts retroactively
We will also pay your pension retroactively. If you have received any other benefit during this period from, for example Kela or the unemployment fund, we will find out from the payer whether the retroactive pension will be paid to them in part or in full.