You can work during retirement and accrue an additional pension for yourself. Pension will continue to accrue at a rate of 1.5% of your earnings or YEL income for entrepreneurs up until your maximum retirement age. When it comes to working during retirement, there are, however, differences between the different forms of pension and so it’s a good idea to check in advance how your pension might be affected by working.
On this page, we briefly explain how working affects the different forms of pension.
Old-age pension and partial old-age pension
There are no limitations on working or earnings for anyone receiving old-age pension or partial old-age pension.
It is important to note, however, that one of the requirements for receiving old-age pension is that your current employment contract must have terminated prior to the commencement of old-age pension. If you choose to continue working for the same employer once your old-age pension has begun, you can enter into a new employment contract with the employer but with different terms of employment.
As an entrepreneur, you can continue your entrepreneurial activities while receiving pension and without any limitations. You will no longer have the obligation to insure, but you can opt to take voluntary YEL insurance and, thus, continue to accrue further pension for yourself. Find out more about YEL insurance.
If you have worked alongside old-age pension, you can apply for the payment of your additional pension accrual when you have reached your maximum retirement age. This pension is applied for using the old-age pension application form.
Survivors’ pension
If you are a widow(er), former spouse or child receiving survivors’ pension, your earnings will not affect the amount of your survivors’ pension.
Disability pension
Your earnings on full disability pension may be a maximum of 40% and on partial disability pension 60% of your previous earnings.
Your personal earnings limits are stated in your pension decision. You can check the minimum earnings limits from our Disability pension page.
If you begin working and there is a danger that you may exceed your earnings limits, contact us immediately so that we can review your situation. It is possible to suspend your pension for a minimum of three months and maximum of two years.
If you have worked alongside disability pension, you can apply for the accrued pension using the old-age pension form at the point at which your disability pension transitions into old-age pension.
Years-of-service pension
You can work alongside years-of-service pension if your monthly earnings are less than EUR 976,59 per month (2024).
This work will accrue an additional pension that you can apply for once you reach the retirement age for old-age pension.