How the target retirement age affects you
- It affects the earliest you can draw your income pension and premium pension – the earliest you can draw your income pension and premium pension is three years before your target retirement age.
There are some exceptions due to transitional provisions. - The target retirement age determines the basic protection – the earliest you can receive the guarantee pension, income pension complement, housing supplement and income support for the elderly is your target retirement age.
- It is adjusted in accordance with life expectancy over time – if life expectancy increases, the target retirement age will be raised. Therefore, forecasts are made every year for those whose target retirement age has not yet been set.
Why is there a target retirement age?
When life expectancy increases, the same pension must cover a greater number of years, resulting in lower monthly amounts. The target retirement age has been introduced so that pensions do not decrease when we live longer.
When can you start drawing your national public pension?
The age at which you may begin drawing your national public pension depends on the year you were born.
- The earliest you may draw the income pension and premium pension is three years before your target retirement age. There are some exceptions for those who are subject to transitional provisions.
- The earliest you may be entitled to the guarantee pension, income pension complement, housing supplement and income support for the elderly is your target retirement age.
- The occupational pension is not affected by the target retirement age. The age at which you may begin drawing it depends on which occupational pension agreement you are covered by.
Year of birth |
Target retirement age |
May draw income- and premium pension |
Earliest entitled to basic protection* |
|---|---|---|---|
1958 |
age 66 |
From age 61 |
From age 66 |
1959 |
age 66 |
From age 62 |
From age 66 |
1960 |
age 67 |
From age 62 |
From age 67 |
1961-1962 |
age 67 |
From age 63 |
From age 67 |
1963- |
age 67 |
From age 64 |
From age 67 |
* Guarantee pension, income pension supplement, housing supplement and income support for the elderly.
Sickness and unemployment benefits are paid up to and including the month before you reach your target retirement age.
Forecast for your target retirement age – if you were born in 1965 or later
If you were born in 1965 or later, your target retirement age has not yet been set. New forecasts are made every year that show possible changes to the retirement age.
The table below shows the applicable target retirement age for your year of birth. Remember that the figures can change before a decision is taken on your target retirement age.
Year of birth |
Forecast for target retirement age |
May draw income- and premium pension |
Earliest entitled to basic protection* |
|---|---|---|---|
1965-1966 |
age 67 |
From age 64 |
From age 67 |
1967-1969 |
age 68 |
From age 64 |
From age 68 |
1970-1980 |
age 68 |
From age 65 |
From age 68 |
1981-1983 |
age 69 |
From age 65 |
From age 69 |
1984-1996 |
age 69 |
From age 66 |
From age 69 |
1997-1999 |
age 70 |
From age 66 |
From age 70 |
2000-2014 |
age 70 |
From age 67 |
From age 70 |
* Guarantee pension, income pension supplement, housing supplement and income support for the elderly.
Sickness and unemployment benefits are paid up to and including the month before you reach your retirement age.
When is the decision on retirement age taken – and how often can it be changed?
The retirement age is set six years before it takes effect. This provides you with plenty of time to plan for your retirement. The retirement age may be changed by at most one year at a time, but only if it has not been changed during the previous three years.