As of 1st January 2017, the provisions of the years-of-service pension have been introduced to the Seafarer’s Pension Act and other earnings-related pension acts.
Years-of-service pension cannot be granted earlier than 1 February 2017.
An employee has the right to years-of-service pension at the age of 63, if:
- the person has had a working life of at least 38 years for which earnings-related pension insurance has been taken out and which has entailed, with minor exceptions, strenuous and wearing work.
- the person's working capacity has deteriorated due to sickness, impediment or disability but does not fulfil the requirements of full disability pension;
- the person's possibility to continue working has, due to reasons stated in part 1 and 2, permanently deteriorated; and
- when the age limit is fulfilled or after the pension application has been submitted and the strenuous and wearing work stated in part 1 continues or the employment has ended one year ago at the most.
The amount of years-of-service pension is the accrued pension on the month before the years-of-service pension is granted.