Voluntary pension insurance or long-term savings contract contributions

This section contains the following amounts:

• Your contributions related to a voluntary pension insurance contract
• Your contributions to a “PS” contract (an individual retirement account for long-term savings)

Only the insured person, not his or her spouse, can deduct the paid contributions in their personal taxation. The contributions are deductible if the insurance company operates in Finland or elsewhere within the European Economic Area.

In most cases, the Tax Administration receives information from banks, insurance companies and other providers of pension insurance. After you have checked the amounts and information, make any necessary corrections and additions.

How to file in MyTax

The Pre-completed income and deductions stage contains the information that has been available to the Tax Administration on voluntary pension insurance and long-term savings agreements. If you make corrections, first select the link with the name of the bank or other organisation that has collected the relevant contributions of payments from you. Then, you can edit the entries. If just a part of the amounts is showing, click the Add new contribution button.

If no voluntary pension or long-term savings contributions appear among your pre-filled deductions, enter data in the Other deductions stage as appropriate. Select Yes for Voluntary pension insurance or long-term savings contract contributions, and then click the Add new contribution button.

Further information

• Read about pension insurance premiums and how they are deducted (in Finnish and Swedish)

How to file on paper

To claim the deductible pension or long-term savings contributions on paper, submit Form 50B – Capital income and deductions.