The average monthly pension for people in Finland was €1,845 in 2022, up from €1,784 the previous year, according to data from the Finnish Centre for Pensions (ETK) and Kela.

Total pension expenditure during the year was €34.9bn, with more than a third (34 per cent) of Finns over the age of 16 receiving a pension.

The median monthly pension was €1,614, and nearly 70 per cent of Finns received a monthly pension of less than €2,000, while 10 per cent had a pension of more than €3,000 a month.

The majority of people receiving less than €2,000 were women, with women receiving 20 per cent less in pension income than men, on average.

In 2022, men received an average monthly pension of €2,070 and women received an average of €1,658.

“The gender gap in the average pension level changes slowly,” commented ETK statistics manager, Tiina Palotie-Heino.

“Over the last decade, it has narrowed by 2 percentage points.”

Around 1.6 million Finns were receiving a pension in 2022, with disability pensions being paid to 181,000 people, or more than 5 per cent of 15-64 year olds.

Of the almost €35bn of pension expenditure in 2022, €31.4bn was for earnings-related pensions, while Kela paid national and guaranteed pensions of almost €2.5bn.

The majority (€29.3bn) of pensions paid were in the form of old-age pensions.

ETK’s and Kela’s data did not include people who get a part-time pension, a partial old-age pension or only a survivors’ pension.

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