Finns living abroad to lose pensions « Euro Weekly News

Finnish pensioners who live outside of the country, were warned in October 2024 that the Government was considering sweeping changes in order to save money.

Now Parliament has approved a measure which takes effect from February 1, 2025 whereby it will stop the payment of national pensions to recipients living outside Finland in EU and EEA countries, Switzerland, and the UK.

Apart from saving money (estimated at a not overly large €38 million) the intention is to reward pensioners who live in Finland rather than those who have chosen to live elsewhere in Europe (many of whom have chosen to settle in the warmer climate of Spain).

At first thought, it would seem somewhat askance with the European Union concept of inclusivity but in fact, there is precedence as a 2017 decision by the EU Court of Justice, led Sweden to stop paying its guarantee pensions to residents abroad in 2023, so Finland is following suit.

Some 20,000 Finns living abroad are expected to lose their national pensions

It is estimated that there are some 20,000 Finnish pensioners living in the areas announced but for about 75 per cent, they will experience a loss of less than €200 per month although for the other 25 per cent the loss will be greater.

As well as national pensions most may lose healthcare benefits as well

Another change will affect access to free health benefits and if the national pension is a person’s only Finnish benefit, Finland will no longer cover their medical treatment costs whilst abroad.

Certificates for healthcare coverage, such as the S1 form or the European Health  Insurance Card issued by Finland, will also be removed.

Add to these two major changes will be the loss of care allowances for certain pensioners who live abroad and child benefits, childcare allowances, and child increases tied to the national pension will also cease.

Even those who have previously worked in any of the areas which will see pensions removed and have since returned to live in Finland will see their pensions recalculated to take their absence into account.

Anyone who currently lives in Finland and receives a national pension will see that removed, should they decide to move abroad unless they choose a country with a social security agreement with Finland.