The turn of the year will, once again, bring changes to pensions in payment. The majority of the changes will happen automatically and will not require any action on the part of our pension recipients.
Index adjustment
Pensions in payment will be adjusted at the turn of the year by the earnings-related pension index. The earnings-related pension index increases each pension amount by about 5.7%. The index adjustment happens automatically, so there is no need to apply for the increase.
Our January letter contains important information concerning your pension
In January, we will send all our pension recipients a letter containing their index-adjusted pension amount and the pension payment dates for 2024. The letter also states the amount of pensions paid during 2023 and total amount of related withholding tax. If you receive a pension that has an earnings limit, the letter will also state the index-adjusted earnings limit for 2024.
These letters will be sent out immediately at the beginning of the year, on 2 January 2024.
Pension payment dates for 2024
Pensions are paid on the first weekday of every month. Below, you will find the pension payment dates for 2024.
| 2 January | 2 May | 2 September |
| 1 February | 3 June | 1 October |
| 1 March | 1 July | 1 November |
| 2 April | 1 August | 2 December |
Pension taxation
January’s pension payment will be taxed in accordance with the withholding rate for 2023. Tax cards for 2024 will be applied to pensions paid from February 2024 onwards. We will inform the tax authorities of the index-adjusted pension amounts of our pension recipients for 2024 and the tax authorities will automatically send us new tax cards calculated on the basis of these amounts.
If you would like to increase your tax percentage, you can notify us of this by sending us a message through our online service. You can access the online service at https://veritas.fi/en/log-in/. Our phone numbers can be found from the contact information page at https://veritas.fi/en/contact/. Any changes other than an increase to the tax percentage must be handled directly with the tax authorities.
Pension taxation for pensions that started at the end of 2023
Pensions that have started on 1 November 2023 or later do not fall within the scope of the automatic information exchange concerning tax percentages that takes place between Veritas and the tax authorities. Therefore, we will also need a pension tax card, as acquired by you, for 2024. You can order a tax card after 15 December 2023 through the MyTax service www.vero.fi/en/e-file/mytax/ or by calling the tax card service at +359 (0)29 497 050. State that Veritas Pension Insurance pays your pension benefits and the tax authorities will send the tax card directly to us. Please note that if we do not have a valid calculated tax percentage for your pension, we will withhold taxes from your pension at a rate of 40%.
