Over half (55 per cent) of Finns believe that the pension reform proposals agreed in January are good or very good, the Finnish Centre for Pensions' (ETK) latest Pension Barometer has found, although the proportion of Finns with confidence in the pension system has fallen.

The research found that 57 per cent of respondents considered the negotiated inflation stabiliser to be at least good.

In addition to this, just over two fifths (43 per cent) of respondents viewed changes to the regulation of pension fund investments as a positive development, while 41 per cent saw these as a neutral change.

”Clearly, most Finns viewed the pension reform proposal positively or neutrally. Overall, more than half of Finns thought the proposal was good, while fewer than one in ten were critical of it," ETK economist, Sanna Tenhunen, noted.

Tenhunen pointed out that while older respondents were more likely to view the proposal favourably, even among those under 35 years of age, 45 per cent regarded the reform as beneficial.

However, despite the support for the reforms, the survey found that 51 per cent of the respondents said that they trust the pension system, marking a notable decrease on the previous year's survey.

In addition to this, less than half (44 per cent) of Finns were confident that pensions will be paid in future, with 26 per cent unconvinced that this will happen.

Age differences were also found, as respondents under 30 years of age trusted the pension system less than older respondents.

ETK head of research, Susan Kuivalainen, highlighted the results as demonstration of the current uncertainty surrounding pensions, noting that fewer respondents had strong opinions compared to previous surveys, with more taking a neutral stance.

"Assessments of the pension system may have been influenced by global political and economic uncertainty, as well as public discourse on the pension reform," she said.

"It should also be noted that this year’s survey was conducted using a new method, which affects the comparability of these results with those from previous years."

However, ETK emphasised that respondents were generally still satisfied and positive about the pension system’s fundamental principles.

”Most Finns view it positively that everyone is included in the same system under the same rules, that higher earners pay higher contributions and that those who have paid higher contributions receive higher pensions," Tenhunen stated.

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