Study supporting the impact assessment of the future European Social Fund proposal : achieving structural change : conditions for success in the areas of ESF intervention : Finland case study : pension reform

This report contains a case study for the Study supporting the Impact assessment of the future European Social Fund proposal. Achieving structural change: conditions for success in the areas of ESF intervention. The reform under assessment focuses on the 2015 pension reform in Finland, and includes the following measures. • Gradual rise of the retirement age to 65 in the employment pension system. The age is linked to life expectancy. • Part-time pension abolished and a partial early old-age pension introduced. • Introducing a years-of-service pension as a new pension benefit mostly for blue collar workers. • The higher pension accrual rates for older workers were abolished. • Adjustments, new forms and automatic stabilizers to the earnings-related pension calculations.