Retirement

Here you can find instructions for starting your pension and tips for retirement. If you have individual or group pension insurance, the simplest way to apply for pension is on the Web Service.

When you decide to retire

As your retirement approaches, we will send you a notice that your pension is beginning, explaining key information on your pension, such as its start date and an estimate of the monthly pension amount. You will receive the notice a few months before your pension starts. When you receive the notice, you can begin to draw your supplementary pension or to move your pension start date forward.

Please contact your earnings-related pension company in matters related to your earnings-related pension.

If you wish to begin drawing your pension

If you wish to begin drawing your supplementary pension, inform us on the Web Service or using the form that is attached to the notice of the start of pension. Also include your bank account number so that we can pay your pension. Remember to send us your tax card. Instructions for ordering a tax card and for the taxation of the supplementary pension can be found below.
The first payment of your pension will be deposited into your bank account within approximately one week of the start of your retirement. Around the same time, we will send you a pension decision, which gives you the final monthly pension amount for the current year. Thereafter, we will pay your pension into your bank account on the first banking day of the month.

If you wish to apply for pension before you receive the notice of the start of pension, you can fill in the application form and send a scanned copy to us attached to a message on the online service or by mail.

If you want to change the start date of your pension

You can change the start date of your pension before pension is paid to you. The instructions depend on the policy and can thus be found in your notice of the start of pension.

Remember to apply for a tax card for pension income.

It is a good idea to apply for the tax card for pension income well before retirement starts. To calculate the tax card, you will need the notice of the start of pension and information on your early-year income, the tax withheld and any deductions.

The tax authority will provide you with a tax card for pension income for the taxable pension. You can apply for a tax card either online or by phone by calling 029 497 000. Please ask the tax authority 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 subject to income tax.

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.* You do not need to send Mandatum Life a tax card for capital gains from your pension.

*Tax information for 2016.

Pension applications

If you have individual or group pension insurance, the simplest way to apply for pension is on the Web Service.

Log in to the Web Service here

If you cannot apply online, you can use the application attached to the notice of the start of pension or print out the application below.

 

 

When you have already retired

Taxation of voluntary pension

You do not need to inform the tax authority of your pension payments, as we will take care of that for you. We receive the new withholding tax rate directly from the Tax Administration at the start of the year.

Change in taxation during retirement

If the amount of your supplementary pension changes considerably or if there are changes in your taxation, order a new tax card for your supplementary pension and ask the tax office to deliver the tax card to Mandatum Life as soon as possible. This will ensure that we retain the correct amount of withholding tax, and that you pay the correct amount of tax. Instructions for ordering a tax card can be found above.

Employee pension card

If you draw statutory pension, you can order an employee pension card from your earnings-related pension company, which gives you access to benefits offered to pensioners. In that case, you will not need Mandatum Life’s pension card.

Mandatum Life’s pension card gives you access to some benefits for pensioners. You can order the card by sending us a message on the Web Service or by calling our customer service.

Submit a new bank account number

You can submit a new bank account number for pension payments on our Web Service. Log in to the Web Service and select Messages. Then choose New bank account number as the subject of the message.

You can also report your new account number using the form below. After printing and filling in the form, mail it to us to the address included on the form.

 

Notification of a new bank account number

 

Pension matters