Am I eligible for pension from Keva?
Your pension is administered and paid by the pension provider where your last employment contract was insured.
Keva administers the pensions of public sector employees, i.e. those working for local government, the State, the Evangelical Lutheran Church, Bank of Finland and Kela. If your last employer before retirement was a public sector employer, your pension provider is Keva.
Public sector pension
You may be eligible for public sector pension if you are employed by
- a municipality or joint municipal authority
- the State
- the Evangelical Lutheran church or its parish or parish union
- the Social Insurance Institution of Finland (Kela)
- the Bank of Finland.
You may also be covered by the Public Sector Pensions Act (Finlex.fi, in Finnish) if
- you have in place with an above employer a commission or consulting contract and you have not taken out insurance as referred to in the Self-Employed Persons’ Pensions Act for this activity and the activity is not carried out in the form of a company or other corporation.
- you serve in a position of trust with an above employer
- you work as a municipal family carer or caregiver
- you work for a municipal limited liability company or municipal association.
The employees of the Defence Forces and the Border Guard are also covered by the Public Sector Pensions Act.
In addition, Keva administers the pensions of the President of the Republic of Finland and the members of Parliament and the Government.
- Learn more about Keva’s activities and organisation: This is Keva
Where does the money for pensions come from?
The funds needed to pay pensions come mostly from pension contributions collected from employers, employees and the self-employed. In this way, each working-age generation in turn helps to pay the pensions of those who have retired.
Part of the pension contributions collected each year are funded. They are ser aside to ensure that there is enough money to pay pensions also in the future.
- Read more at: Financing of pensions (Tela.fi)
Employee’s pension contribution
A pension contribution is deducted from your pay during the period you accrue pension from the age of 17 onwards. Working pensioners under the age of 68 also pay a pension contribution because pension accrues also for work done during retirement.
Employee pension contributions in 2021 are (the same as in 2020):
- 17‒52 years 7.15%
- 53‒62 years 8.65%
- 63‒67 years 7.15%
Your employer will withhold your contribution from your gross pay in conjunction with payment of earnings. The employer will pay your contribution to the pension provider, such as Keva. You can see the pension contribution on your payslip.
Employer’s pension contribution
Your employer also pays pension contributions. These are considerably higher than the contribution paid by the employee.