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Over 13K apply for early pension

More over 61-year-olds than expected applied to receive half their pension early in the first year of the new system.

After age 61 you can apply to receive a quarter or a half of your pension accrued so far. Image: Derrick Frilund / Yle

More than 13,000 people opted to receive a part of their accrued pension before fully retiring this year, the Finnish Centre for Pensions reports.

The system, whereby over 61-year-olds may apply to receive either one quarter or one half of their full pension in advance, has been running for just under a year. Unemployed people also have the right to receive a partial early pension.

The pension centre's initial estimates had the number of interested recipients at 10,000—11,000 this year.

People who apply to receive an early pension may continue working as much as they want after receiving the advance – or indeed stop working altogether.

Finnish Centre for Pensions development chief Jari Kannisto says the largest age group among those who opted for the early pension this year are those born in 1956. Most applications were for the full 50 percent, instead of a 25-percent tranche.

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