Retirement

On this page you will find information concerning the start of pension payments and instructions on how to begin drawing your pension. If you have an individual pension insurance or a group pension insurance, the most convenient way to apply for pension is online in our Web Service.

When you decide to retire

We will send you a notice concerning the start of your pension 2 to 4 months before your pension is due to begin according to your pension contract. The notice contains important information about your pension, such as the starting date. When you receive the notice, you can begin drawing your supplementary pension.

For matters related to your statutory earnings-related pension, please contact your earnings-related pension company.

The start of pension payments

If you wish to begin drawing your supplementary pension, inform us online via our Web Service or by using the form attached to the notice of the start of your pension. Also include your bank account number for pension payments.

Changing the start date of your pension

It is possible to change the start date of your pension in some cases, if the pension payments have not yet begun. For more information about changing the start date of your pension, please call our customer service, tel. +358 200 31100 (lnc/mnc).

Pension income tax card and the payment of pension

Instructions for ordering a tax card and information on the taxation and payment of the supplementary pension can be found below.

Individual pension insurance for private customers

Order a tax card for supplementary pension subject to income tax from the Tax Administration. You can apply for a tax card either online in the MyTax service or via telephone, tel. +358 29 497 000. To calculate the tax rate, you will need the information in the notice that we sent you regarding the start of your pension and information on your early-year income, the tax withheld and any deductions.

It is a good idea to apply for the tax card well before you begin your retirement. Please ask the Tax Administration to send the tax card directly to Mandatum Life. If you do not send us a tax card, we will have to withhold 40 per cent tax on your pension, which is subject to income tax.*

You do not need to send Mandatum Life a tax card for capital gains from your pension. We will withhold tax on the capital gains from your pension according to the capital gains tax rate in effect, which is currently 30 per cent. For capital gains exceeding EUR 30,000, the tax rate is 34 per cent.*

We will send you a pension decision when your pension begins. The pension decision contains information about the amount of your pension and pension taxation.

We will pay the first pension payment to your bank account in the first days of the month in which your pension begins. Thereafter, we will pay your pension to your bank account on the first banking day of the month.

*Tax information for 2019.

Individual pension insurance taken out by the employer, Sesam group pension insurance and Nova Supplementary Pension

If you have individual pension insurance taken out by your employer or Sesam group pension insurance, order a tax card for supplementary pension subject to income tax from the Tax Administration using the information contained in the notice concerning the start of your pension. You can apply for a tax card for Nova Supplementary Pension once you receive a pension decision.

You can order a tax card for pension from the Tax Administration either online in the MyTax service, or by phone at the number +358 29 497 000. To calculate the tax rate, you will need the information concerning the amount of your pension, which you will find in the notice of the start of your pension or the pension decision, as well as information on your early-year income, the tax withheld and any deductions. Please ask the Tax Administration to send the tax card directly to Mandatum Life.

We will send you a pension decision when your pension begins. The pension decision contains information about the amount of your pension and pension taxation.

We will pay the first pension payment to your bank account in the first days of the month in which your pension begins. Thereafter, we will pay your pension to your bank account on the first banking day of the month.

Pension applications

If you have individual pension insurance or group pension insurance, the most convenient way to apply for pension is in the Web Service.

Log in to the Web Service

If you cannot apply online, you can use the application attached to the notice of the start of your pension and send it to us by post to:

Mandatum Life Insurance Company
Asiakasposti / 2011
Kalevantie 3
FI-20520 Turku

Pension matters