The life expectancy coefficient confirmed by the Ministry of Social Affairs and Health for 2022 is 0.94659.

The life expectancy coefficient now confirmed reduces the old-age pension of those born in 1960 who begin to receive their earnings-related old-age pension in 2022 or later by 5.341 per cent. The life expectancy coefficient is also applied to and will reduce new disability pensions granted in 2022 on the basis of an incapacity for work, but it is not applied to the projected pension component of a disability pension. In addition, the life expectancy coefficient will affect any survivors’ pensions, partial early old-age pensions and career pensions granted in 2022 in accordance with the valid pension legislation.

The purpose of the life expectancy coefficient is to adjust the level of new pensions and the pension expenditure to reflect the anticipated change in the average life expectancy. If the average life expectancy continues to increase, the life expectancy coefficient will reduce the amount of the monthly pensions.

The life expectancy coefficient was applied for the first time in 2010. The goal is for employees to counteract the reducing effect of the life expectancy coefficient by remaining longer in working life.