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Accrued pension entitlements stood at EUR 838 billion at the end of 2020

release 28/04/2023 | Financial accounts 2020

According to Statistics Finland, the accrued pension entitlements of Finland’s statutory earnings-related pension scheme stood at EUR 837.7 billion at the end of 2020 with a real discount rate assumption of two per cent, or 352 per cent relative to gross domestic product. From 2019, pension entitlements grew by EUR 15.9 billion. The pension entitlements of the earnings-related pension scheme of private branches were EUR 571.5 billion and those of public branches were EUR 266.2 billion.

Pension entitlements of public and private branches in 2020 with different discount rates in a horizontal bar chart. The discount rate used in the calculations is critical to the amount of pension entitlements in the earnings-related pension scheme. The lower the rate, the larger the amount of pension entitlements. The amount of pension entitlements of private branches was significantly higher than that of public branches in 2020

Key selections

The accrued pension entitlements of the Finnish earnings-related pension scheme stood at EUR 837.7 billion at the end of 2020.
The pension entitlements of private branches were EUR 571.5 billion and those of public branches were EUR 266.2 billion.
From 2019, pension entitlements grew by EUR 15.9 billion.

Statistics used in the release

Financial accounts

Tables

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28.04.2023

Pension entitlements in the end of 2020

	E1 Social security pension schemes (statutory earnings-related pension scheme)	E11 Social security pension schemes (statutory earnings-related pension scheme), private branches	E12 Social security pension schemes (statutory earnings-related pension scheme), public branches	E2 Other employment-related pension schemes (voluntary supplementary pension schemes)	E21 Other employment-related pension schemes (voluntary supplementary pension schemes), defined contribution schemes	E22 Other employment-related pension schemes (voluntary supplementary pension schemes), defined benefit schemes and other non-defined contribution schemes
Pension entitlements at discount rate 2% (base scenario), millions of euro	837,678	571,455	266,223	data missing	data missing	data missing
Pension entitlements at discount rate 1%, millions of euro	1,010,862	695,646	315,216	data missing	data missing	data missing
Pension entitlements at discount rate 3%, millions of euro	707,955	479,288	228,667	data missing	data missing	data missing
Pension entitlements at undefined discount rate, millions of euro	data missing	data missing	data missing	9,147	1,232	7,915
Pension entitlements at discount rate 2% (base scenario), ratio to GDP, %	351.9	240.1	111.8	data missing	data missing	data missing
Pension entitlements at discount rate 1%, ratio to GDP, %	424.7	292.2	132.4	data missing	data missing	data missing
Pension entitlements at discount rate 3%, ratio to GDP, %	297.4	201.3	96.1	data missing	data missing	data missing
Pension entitlements at undefined discount rate, ratio to GDP, %	data missing	data missing	data missing	3.8	0.5	3.3

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Updated database tables

12kc

Pension entitlements, annually(External link)

Classifications used:

Pension scheme

Period:

annual

Statistics:

Financial accounts

Updated:

28/04/2023

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