The age from which early old-age pension can be awarded is calculated from the age of 63 years or from the earned retirement age by that time. You can bring your old-age pension forward by a maximum of one year.

Early retirement reduces old-age pension permanently because

• pension accrues only up to the time of retirement, and 
• accrued pension is reduced at a rate of 0.6% for each month of early retirement. Early retirement by one year will therefore reduce your pension by 7.2%. The reduction is permanent.

Example 1

How does early retirement affect your pension? Calculate it on the Loki online service (available in Finnish). Logg on to our online service with your online banking password or chip card. All Loki service functions are SSL encrypted and secure to use.

Old regulations for people born before 1950

You are affected by different early retirement rates:

Early retirement reduces old-age pension permanently. The reduction is 4.8 per cent per year of early retirement, or 0.4% per month. The reduction is calculated from the pension earned by the age of retirement. The age for awarding early old-age pension is calculated from the age of 65 years or from the earned retirement age by that time.

Example 2

How does early retirement affect your pension? Calculate it on the Loki online service (available in Finnish). Logg on to our online service with your online banking password or chip card. All Loki service functions are SSL encrypted and secure to use.