The average monthly pension in Finland in 2021 was €1,784, which is €20 higher per month than in 2020, according to the Finnish Centre for Pensions (ETK).

However, nearly one third of all pensions in Finland are higher than €2,000 per month but every third Finn receives a monthly pension of less than €1,250.

In 2021, the average monthly pension for Finnish women was €1,601 and for men €2,006. In other words, women’s pensions were one fifth smaller than men’s pensions. The gender gap, however, remained unchanged compared to 2020. Since pension is accrued based on income, the gaps in wages are strongly reflected in gaps in pensions.

Commenting, ETK statistics manager, Tiina Palotie-Heino, said: “The gender gap is particularly pronounced among those receiving the highest pensions. Nearly 15 per cent of men received a pension higher than €3,000 while the same rate for women was only five per cent. The pension amount reflects one’s working life, its length and the wage level.”

In 2021, earnings-related and Kela pension payments amounted to €32.8bn. Pensions paid under the earnings-related pension system amounted to €30.3bn and pensions paid by Kela to €2.5bn.

The majority of the pensions (86 per cent) were paid in the form of old-age pensions. Disability pensions accounted for 7 per cent and survivors’ pensions for 5 per cent of the total pension expenditure in Finland in 2021.

Half of the 2.4 billion euros paid in disability pensions were due to mental disorders. Musculoskeletal diseases were the cause for one fifth (€0.5 bn) of pension expenditure in 2021.

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