Partial early old-age pension (OVE) in Finland 2026
The partial early old-age pension lets you draw 25 or 50 percent of the earnings-related pension you have accrued so far, before your lowest old-age pension age. It does not restrict working: you can keep working, cut your hours or stop altogether.
The price is permanent: every month drawn early reduces the pension by 0.4 percent for good. Below are the age limits, the formula and examples.
- 25 % / 50 %
- share you can draw
- 0.4 %/month
- early reduction
- 14.4 %
- maximum (36 months)
- 0.94643
- life expectancy coefficient 2026
Who can take OVE?
The age limit depends on your year of birth. For those born in 1963 or earlier it is 61, for those born in 1964 it is 62, and for those born in 1965 or later it is three years before their own lowest old-age pension age. The earliest start is therefore 36 months before your retirement age, when the reduction reaches its maximum of 14.4 percent.
How is the amount calculated?
The calculation is based on the earnings-related pension accrued by the end of the previous year. The chosen share is taken from it, the early reduction is deducted, and the result is multiplied by the life expectancy coefficient for your birth year, confirmed for 2026 at 0.94643.
- Share = accrued pension × 25 % or 50 %
- Reduction = 0.4 % × number of months drawn early
- After reduction = share × (1 − reduction)
- Final OVE = the above × life expectancy coefficient
What to weigh before deciding
The early reduction is permanent: it does not disappear when you reach the ordinary retirement age but lowers your pension for life. On the other hand, work during OVE keeps accruing new pension, and the remaining share can be drawn later without a reduction — and if you start it after retirement age, it gets a deferral increase of 0.4 percent a month.
- OVE is taxable pension income — check your tax card.
- OVE is counted in Kela’s yleistuki from 1 May 2026.
- The decision can only be cancelled within a short window.
- You can raise the share from 25 to 50 percent only once.
Calculators for this topic
FAQ
What is the partial early old-age pension?
It is a pension where you draw 25 or 50 percent of the earnings-related pension accrued so far, before your lowest old-age pension age. It does not restrict working: you can keep working normally, cut your hours or stop.
How much does OVE reduce the pension?
The early reduction is 0.4 percent for every month you draw the pension before your own retirement age. The earliest start is 36 months early, giving a reduction of 14.4 percent. The reduction is permanent.
At what age can OVE start?
At 61 for those born in 1963 or earlier, at 62 for those born in 1964, and three years before their own lowest old-age pension age for those born in 1965 or later.
Can I keep working while drawing OVE?
Yes. OVE sets no earnings limits, and working continues to accrue new pension. This sets it apart from many other early pensions.
Does the reduction disappear at retirement age?
No. The early reduction is permanent and lowers the pension for life. The share you did not draw is paid later without a reduction, and starting it after retirement age adds a deferral increase.
Does OVE affect other benefits?
Yes. OVE is taxable pension income and it is counted in Kela’s yleistuki from 1 May 2026. Check your tax card as well, so the withholding matches your new total income.