In an interview with Iltalehti on Saturday, Finance Minister Riikka Purra (Finns) said it will eventually become necessary to raise the retirement age.
A recent analysis by the Finnish Business and Policy Forum (EVA) suggested that the pension age be delayed by two years.
Cutting pensions was also 'very possible', according to Purra. She did not, however, consider it sensible to touch the smallest pensions.
Achieving the government's savings targets will also require cuts to the social and healthcare sectors, Purra said.
By the middle of this month, the government headed by PM Petteri Orpo (NCP) is set to decide on new austerity measures amounting to some three billion euros in addition to the previously agreed cuts of six billion euros.
Iltalehti's article echoes other recent reports that pensions will be on the firing line as the government looks for emergency spending cuts.
Expenditure on occupational pensions was estimated at 34 billion euros last year.
Although the total pension pot is large, the average Finnish pension is small. According to business daily Kauppalehti this week, almost two-thirds of Finns have a pension of less than 2,000 euros a month.
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