Extended earnings-related allowance and retirement
If you were born before 1950 and turn 57 before exhausting your 500-day maximum payment period, you are entitled to an extended earnings-related allowance period until the end of the calendar month in which you turn 60. If your unemployment continues after this, you can apply for an unemployment pension.
If you were born between 1950 and 1954, the age limit for an extended allowance is 59 years,
if you were born between 1955 and 1956, the age limit is 60 years, and
if you were born in or after 1957, the age limit is 61 years of age, before the end of the 500-day maximum period.
In addition to reaching the specified age, you must have worked for at least 5 years during the last 20 years before exhausting your 500-day maximum payment period. If the conditions are met, the allowance can be paid until the end of the calendar month in which you turn 65. When you have turned 65, you must apply for old-age pension.
PLEASE NOTE! You do not need to separately apply for extended allowance. The unemployment fund will determine your right to extended allowance once the 500-day maximum is reached. Once the extended earnings-related allowance period starts, you can apply for the allowance in the same way as you did before. No separate decision or certificate is issued regarding the start of the extended allowance period. If you are not entitled to extended allowance, you will be provided with a written decision.
Even though extended earnings-related allowance can be paid until you turn 65, you can, if you wish, retire with an old-age pension even before. If you wish, you can choose to retire in the middle of the maximum period of earnings-related allowance before the extended allowance period begins. For further information about the retirement age, the exception to the retirement age for those receiving an extended allowance, pension applications and the accrual of pension, please contact your own pension insurance company or see the Keva website (www.keva.fi). The section Information about pensions (When to retire and how to apply for pension?) is particularly useful.
You can apply for partial early old-age pension if you are 61 or over. Partial early old-age pension does not affect the amount of your earnings-related allowance. Please note, however, that retirement on partial early old-age pension will reduce the amount of your old-age pension later. For further information, please contact your own pension insurance company or see the Keva website.
The unemployment fund is not involved in the handling of the pension matter apart from providing a certificate that is required for the pension application. Please check with your own pension insurance company which certificate you need for your pension application. For further information and instructions, please contact your own pension insurance company. It is advisable to check in particular when the written application for your intended pension must be submitted to the pension insurance company.
You must inform the unemployment fund of your pension application.