Total pension in Finland 2021 : How are earnings-related pensions, national pensions and taxation determined?

Abstract

In this review, we bring together the components which affect the determination of the total pension in Finland in 2021. The amount of the take-home net pension is affected by how the earnings-related and national pension benefits and the taxation of pensions are determined. The examples and figures illustrate what the Finnish total net pension will consist of in the different income brackets. The taxation of pensions is different from that of wage income due to various tax deductions and contributions. This review compares the tax and contribution burden of Finnish pension recipients and wage earners. It also looks at the taxation of pension recipients’ wage income.

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