Increasing transfers from the pension fund
Act amending section 6 of the Act on the State Pension Fund
More money from the State Pension Fund will be transferred to the state budget to pay pension expenditure. The change will reduce the central government's need to take on new debt.
- Status
- Passed
- Submitted
- 25 Sep 2025
- Latest event
- 14 Nov 2025
- Votes
- 1
- Speeches
- 32
- Confirmed
- 28 Nov 2025
- Statute
- 1067/2025
- Source
- eduskunta.fi ↗
What is proposed
The annual share transferred from the State Pension Fund to the state budget will be increased by 1.2 percentage points starting in 2026, so that the transfer will permanently be 46.2 per cent of central government pension expenditure from 2028 onwards. In addition, a one-off additional transfer of 18.7 percentage points will be made in 2027, raising the transfer share to 63.9 per cent in that year.
What it means
The change concerns central government finances and the State Pension Fund: it will reduce the central government's net borrowing requirement by approximately 66 million euros annually in 2026–2029 and by approximately 1,050 million euros in 2027 due to the one-off transfer. The increase in transfers will slow the growth of the pension fund's investment assets and increase its liquidity needs, but it will have no effect on the pensions received by state pension recipients or on the pension contributions collected. The act will enter into force on 1 January 2026.
How Parliament voted
The act ultimately passed without a vote: no MP proposed rejecting it in the final reading. The only vote concerned a detail of the act.
Dissenting opinion · Voimaantulosäännös: mietintö JAA / Joona Räsäsen ehdotus (vl 1) ja Markus Lohen ehdotus (vl 2) EI
Rejected by 102–75.
Government yes, opposition no. 22 MPs were absent. Minutes ↗
Filled dot = yes, ring = no, grey = absent. Point at a dot to see the MP. Seats follow the current seating plan (updated 20 Sep 2026). One MP who voted is not in the current seating plan.
A passed act does not enter into force immediately: the President of the Republic confirms it, and it enters into force on the date set in the act. This act was confirmed on 28 Nov 2025.
Debate in the chamber
What was argued and where each group stood, followed by MPs' speeches verbatim from the parliamentary record. Speeches are shown in their original language.
32 speeches · 3 debates
Key points of the debate
The debate focused on increasing the transfers from the State Pension Fund and, in particular, the one-off transfer of over one billion euros to the state budget in 2027. The government parties considered the proposal a responsible way to curb government debt accumulation and cover rising pension expenditure. The opposition strongly opposed the proposal, viewing the arrangement as a short-sighted accounting trick that causes greater costs to the state in lost investment returns than taking on debt.
- Is the one-off transfer from the pension fund economically sound, or will it prove more costly than direct borrowing?
- Are the fund's assets being used artificially to embellish the government debt ratio in an election year?
- Does the transfer of funds jeopardise the long-term sustainability of the pension fund?
- National Coalition PartyIn favour
The group supports the proposal as responsible economic management that protects future generations from an excessive debt burden and secures pension funding.
”Tämän ratkaisun ansiosta pystymme turvaamaan kasvavat eläkemenot ilman holtitonta valtion velanottoa.”
— Juha Hänninen - Finns PartyIn favour
The group supports the proposal, as utilising the pension fund's assets reduces the central government's borrowing needs and helps balance pension expenditure caused by population ageing.
”Käsiteltävänä oleva lakiesitys Valtion Eläkerahastosta liittyy hallituksen strategiaan vahvistaa julkisen talouden kestävyyttä tulevina vuosina.”
— Jaana Strandman - Social DemocratsAgainst
The group opposes the proposal because the one-off transfer of one billion euros permanently weakens the fund's investment returns and, taking interest rates into account, costs taxpayers more than ordinary borrowing.
”Tämän tulouttamisen kasvattaminen hitaasti on viisasta, mutta tämä kertatuloutus on minusta huono ratkaisu veronmaksajien kannalta ja maksaa liikaa veronmaksajille kokonaisuutena.”
— Lauri Lyly - Centre PartyAgainst
The group opposes the proposal and considers that permanent tax decisions should not be funded by a one-off withdrawal from the fund, which violates parliamentarily agreed fiscal policy ground rules.
”Keskusta ei pidä perusteltuna sitä, että yhteisöveron alentamista rahoitetaan yhtenä vuonna kertaluontoisesti siten, että Valtion Eläkerahastosta tuloutetaan valtion kassaan ylimääräiset noin miljardi euroa vuonna 2027.”
— Markus Lohi - GreensAgainst
The group opposes the project and regards it as poor policy that causes additional costs for the state in lost investment returns merely to temporarily embellish debt statistics.
”Tämä ei millään tavalla säästä valtion menoja, päinvastoin.”
— Krista Mikkonen - Left AllianceAgainst
The group opposes the proposal and considers the one-off transfer of one billion euros an expensive sleight of hand designed to conceal debt accumulation and fund tax cuts for high earners.
”Miljardisiirto tulee veronmaksajille kalliiksi, sillä menetetyt sijoitustuotot ovat vältettyjä korkomenoja suuremmat.”
— Hanna Sarkkinen - Non-attachedIn favour
The group supports the bill, as it considers the transfer of fund assets a well-considered measure to reduce borrowing needs and maintain intergenerational justice.
”Tämä esitys on esimerkki siitä, miten vastuullista talouspolitiikkaa voidaan tehdä: turvataan eläkkeet, vähennetään velkaa ja huolehditaan sukupolvien välisestä oikeudenmukaisuudesta.”
This digest was generated by AI from 32 speeches 13 Sep 2026. Group positions are read from the speeches, not from votes; quotations were checked verbatim against the record.
Keskustelu päättyi. Asia lähetettiin valtiovarainvaliokuntaan, jolle sosiaali- ja terveysvaliokunnan on annettava lausunto.
Yleiskeskustelu päättyi ja asian käsittely keskeytettiin.
Keskustelu päättyi. Eduskunta hyväksyi ensimmäisessä käsittelyssä sisällöltään päätetyn, hallituksen esitykseen HE 126/2025 vp sisältyvän lakiehdotuksen. Lakiehdotuksen toinen käsittely päättyi. Asian käsittely päättyi.
Stages of consideration
The bill's path from the preliminary debate to the decision, as recorded by Parliament.
- 25 Sep 2025Eduskuntakäsittelyn vireilletulo · Valtiovarainministeriö
- 1 Oct 2025Lähetekeskustelu · Täysistunto
- 5 Nov 2025Valiokunnan mietintö tai lausunto · valtiovarainvaliokunta
- 7 Nov 2025Ensimmäinen käsittely · Täysistunto
- 11 Nov 2025Toinen käsittely · Täysistunto
- 12 Nov 2025Eduskunnan vastaus ja kirjelmä
Decisions by law proposal1
- 1Laki valtion eläkerahastosta annetun lain 6 §:n muuttamisestaHyväksytty · 1067/2025 · 28 Nov 2025
Proposed law text
The law proposals in the bill as the Government presented them. The final act may differ after committee consideration.
The law text is shown in Finnish or Swedish from Parliament's official documents; it is not translated into English.
Laki valtion eläkerahastosta annetun lain 6 §:n muuttamisesta
Eduskunnan päätöksen mukaisesti muutetaan valtion eläkerahastosta annetun lain (1297/2006) 6 §:n 1 momentti, sellaisena kuin se on laissa 218/2022, seuraavasti:
6 §Valtion eläkerahaston menot ja rahaston karttuminen
Valtion eläkerahastosta siirretään vuosittain valtion talousarvioon määrä, joka on 46,2 prosenttia julkisten alojen eläkelain piiriin kuuluvaan valtion palvelukseen perustuvista eläkkeistä ja muista valtion eläketurvan rahoituksen piiriin kuuluvista eläkkeistä aiheutuvasta vuotuisesta menosta.
§
Tämä laki tulee voimaan päivänä kuuta 20 .
Tämän lain 6 §:n 1 momentissa tarkoitettu siirto on 44,2 prosenttia vuonna 2026 ja 63,9 prosenttia vuonna 2027.
Main content of the bill (official)
The summary and title were produced with AI on 25 Aug 2026. They are not official documents – check the details in the original bill. The title and summaries are machine translations of the Finnish AI summaries. Speeches and quotations are always shown in their original language.