Recipients of minimum pensions (guarantee pension) 

Updated: 8.2.2017 - Next update: 8.2.2018
   
 
 
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Recipients of minimum pensions (guarantee pension)

This indicator shows the number and demographic structure of the recipients of minimum pensions. The guarantee pension is paid to pensioners whose national pension and earnings-related pension are less than a minimum income level defined in law. Its purpose is to provide additional income for those subsisting on the very smallest pensions.

The number of recipients at the end of 2016 was 101,600, 0.7 % more than in the previous year. In the oldest age groups, women represented a larger share of the recipients. The reason for this is that women receiving a national pension are more likely than men to draw little or no income from earnings-related pensions. They also have a longer life expectancy. The share of men among the recipients was larger in the younger age groups. They are more likely than women to receive a disability pension.

Approximately half of those drawing guarantee pension were aged 60 years or over. The number of recipients under age 30 was 13,300. This was equal to 13 % of the total number of recipients.


Source:
Kela


Description of indicator

The number of recipients of guarantee pension in December by age group and sex.

The first guarantee pensions were paid out by Kela on 1 March 2011. With the introduction of the guarantee pension, the minimum pension payable to Finnish residents increased to €760.26 (as of 2017). The link between the recipient's family circumstances and the amount of the minimum pension was abolished at the same time. As a result, the minimum pension payable to those with a married or cohabiting partner increased more than that of persons living alone.

Recipients of an old-age or disability pension or of a farm closure benefit may be eligible for a guarantee pension. Immigrants who are incapacitated for work or have reached the age of 65 years are eligible as well provided that they have lived in Finland for at least three years.