Working while receiving pension

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You can work without any limitations while receiving old-age pension and it won’t affect the payment of your pension. Your employment relationship must end, however, in order for you to begin receiving old-age pension. 

You will need to sign a new employment contract if you intend to work while receiving old-age pension. If you continue to work for your previous employer while you are receiving your pension, you must change the terms and conditions of your work arrangements, such as those concerning your wages, working hours or job description. You can, for example, change from full-time work to part-time work. 

A self-employed person receiving old-age pension can continue to carry out entrepreneurial activities without restrictions and the obligation to take YEL insurance or pay insurance contributions. Elo terminates the YEL insurance policy automatically when old-age pension begins. If desired, a self-employed person can opt to take voluntary YEL insurance alongside the pension to earn additional pension for the continuing activities.  

Any work done alongside old-age pension will accrue additional pension at a rate of 1.5% per year if you are employed or have a voluntary YEL insurance policy. The earliest you can apply for the payment of this additional pension is when you reach your highest pensionable age.  You cannot, therefore, apply for it immediately at the end of your employment relationship.  

Apply for the additional pension to be added to your old-age pension by submitting a new old-age pension application in our Online Service.

While receiving partial early old-age pension, you can work freely without any earnings limitations. This type of pension does not require you to end your employment relationship if you decide to continue working. Work is not a prerequisite for partial early old-age pension, so you can apply for it even if you are not working. Partial early old-age pension does not affect the earnings-related unemployment allowance, the basic daily allowance or the sickness allowance.

If you work alongside partial early old-age pension, your employer must have insurance that covers your employment relationship. If you are planning to make any changes to your employment relationship, such as reducing your working hours, you must discuss this with your employer and agree on the changes.

A self-employed person receiving partial early old-age pension must have a valid YEL insurance policy if the conditions for insuring are otherwise met.

Pension from work done while receiving partial early old-age pension accrues at a rate of 1.7% per year for those under the age of 63 and 1.5% per year for those over 63. 

Partial early old-age pension will not, at any point, automatically turn into old-age pension, so a separate application will need to be submitted. Apply for old-age pension in our Online Service.

You can work part-time while receiving disability pension or partial disability pension as long as your earnings do not exceed your earnings limit. The earnings limit is set on a monthly basis and applies to your gross earnings. Earnings refer to taxable income including your monthly salary, holiday bonuses and other incentives and bonuses. 

A recipient of the full disability pension can earn up to 40% of their earnings level prior to the pension period. For partial disability pension, the corresponding earnings limit is 60%. Your personal earnings limit is stated in the pension decision you receive and is adjusted annually. You can check your current earnings limit from the Online Service.  

Alongside full or partial disability pension, you can always earn EUR 976,59 per month (2024), even if your personal earnings limit is lower.

A self-employed person who is working while receiving disability or partial disability pension must have a valid YEL insurance policy if the conditions for insuring are still being met. The confirmed YEL income must not exceed the earnings limit. 

Please note that if you are receiving disability pension from both us and Kela, your earnings alongside pension may also affect the amount of pension paid by Kela. Read more about working while drawing disability pension from Kela 

Work done alongside pension will accrue additional pension at a rate of 1.5% per year. The earliest you can apply for this additional pension is the point at which the pension becomes old-age pension and your gainful employment has ended. In any other case, the additional accrual amount is paid once your gainful employment ends. 

Elo must be notified if you exceed your earnings limit

Notify us immediately if you are working and notice that your earnings will exceed your personal limit. Otherwise, the pension may be suspended retroactively and you will be required to pay back any unduly paid pension benefits. We also need to be informed when your work ends. 

If you exceed your earnings limit, notify us through the Online Service.

Suspension of disability pension payments

Disability pensions payments can be suspended if your earnings exceed the earnings limit for several consecutive months. Pension can be suspended for a minimum of three months and maximum of two years. 

If pension payments have been suspended, they will begin again without a reassessment of your work ability once your work has ended or your earnings have dropped below the limit. Any pension that is suspended for more than two years will be discontinued. The conditions for suspension are monitored on a monthly basis.

You can work part-time alongside years-of-service pension as long as you stay within your earnings limit. The earnings limit is set on a monthly basis and applies to your gross earnings. Earnings refer to taxable income including your monthly salary, holiday bonuses and other incentives and bonuses.
Alongside years-of-service pension, you can earn a maximum of EUR 976,59 per month (in 2024). 

A self-employed person who is working while receiving years-of-service pension must have a valid YEL insurance policy if the conditions for insuring are still being met. The confirmed YEL income must not exceed your earnings limit. 

If the earnings limit is exceeded, the years-of-service pension can be suspended in the same way as for disability pensions. Notify us immediately if you exceed your earnings limit.

If you have questions about working alongside years-of-service pension, contact us through the Online Service.

Any unduly paid pensions will, as a rule, be required to be paid back in full. Before the recovery process is initiated, the pension recipient is given the opportunity to request reconsideration of the amount to be repaid on the basis of, for example, relevant justifications.

If the decision is made to recover the payment of your pension, you can contact us and work out a payment plan. The amount to be repaid can be paid in one or multiple instalments or it can reduce the amount of your currently paid pension or, if necessary, the amount will be collected through distraint. Also contact Elo immediately if there is a need to adjust the agreed payment plan due to changes in your circumstances. You can contact us in the Online Service.