Finland: Pensions and Investment News and Analysis
Finland’s supplementary pension system is dominated by pension insurance companies Varma, Ilmarinen and Elo. Keva manages local government pensions and VER is in charge of state pensions. The pension insurance companies manage a financed component of the first pillar, so are not IORPs under EU law. The government has recently been pushing social partners to agree stabilise contribution levels to the workplace pension system. Pension insurers would prefer reforms to solvency rules to allow them greater leeway to invest in equities, which could in turn lower contribution rates.
Pension Funds in the Nordic Region - Country Report
Nordic Region Report 2024: Denmark’s government urges pension funds to support defence
Danish schemes embrace defence – as long as ESG criteria and international conventions are adhered to
TOP FINNISH PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- Keva | 68,500,000
- Varma Mutual Pension Insurance Co. | 62,069,000
- Ilmarinen | 61,144,000
- Elo Mutual Pension Insurance Co. | 30,922,574
- Valtion Eläkerahasto (VER) | 23,324,000
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
Varma CEO says self-employment YEL pension scheme ‘clearly needs reform’
Pensions insurer currently scheduled to review the income of some 12,000 entrepreneurs
ATP on poor showing in Finnish ranking: ‘Does not reflect value creation’
Denmark’s statutory pension fund defends its results after Finnish Centre for Pensions ranks its real returns as lowest
Finnish pension funds outshine international peers on real returns
Denmark’s bond-heavy ATP stands out for comparatively low real returns, in Finnish Centre for Pensions’ analysis
TELA defends pension fund principles amid calls for home-turf investment
Risto Murto-chaired report on spurring growth in Finland gets country talking about investing in domestic businesses
Veritas optimistic about real estate prospects after second year of losses
Finnish pensions insurer posts 8.4% return for 2024, as customer numbers surge
TOP MANAGERS: NORDIC REGION INSTITUTIONAL ASSETS
Company | Assets (€m)
- SEB | 65,000*
- BlackRock | 61,541
- DNB Asset Management | 53,712**
- Nordea Asset Management | 52,442
- Storebrand Asset Management | 35,386***
- State Street Global Advisors | 29,768
- Nykredit Asset Management | 26,163
- Northern Trust Asset Management | 22,607
- Morgan Stanley Investment Management | 8,936*
- Amundi | 8,344
As at 30.9.3.23, *30.16.23, **15.11.23, ***10.6.22
©IPE Research; Sign up to IPE Profesional to see all the data in the latest country report
IPE BEST PENSION FUND IN THE NORDIC REGION AWARD WINNERS
Nordic Region
- 2023 - The Swedish Fund Selection Agency
Denmark
- 2022 - Industriens Pension
- 2021 - PensionDanmark
- 2020 - PensionDanmark
- 2019 - ATP | PensionDanmark
Norway
- 2022 - KLP
Sweden
- 2022 - Alecta pension insurance, mutual
- 2021 - Fjärde AP-fonden (AP4)
- 2020 - Fjärde AP-fonden (AP4)
- 2019 - Swedish Pensions Agency
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Notes from the Nordics: Finland on the frontier
Fear and uncertainty are rattling markets, but financial concerns are dwarfed by the human suffering caused by the war in Ukraine. In Finland, people have particular reason to worry due to the country’s long land border with Russia.
Varma CEO says self-employment YEL pension scheme ‘clearly needs reform’
Pensions insurer currently scheduled to review the income of some 12,000 entrepreneurs
ATP on poor showing in Finnish ranking: ‘Does not reflect value creation’
Denmark’s statutory pension fund defends its results after Finnish Centre for Pensions ranks its real returns as lowest
Finnish pension funds outshine international peers on real returns
Denmark’s bond-heavy ATP stands out for comparatively low real returns, in Finnish Centre for Pensions’ analysis
TELA defends pension fund principles amid calls for home-turf investment
Risto Murto-chaired report on spurring growth in Finland gets country talking about investing in domestic businesses
European pension funds react to the anti-ESG backlash
Despite political and market headwinds, European pension funds remain firmly committed to achieving net-zero and long-term climate goals
European pension funds, APK and Ilmarinen, stay loyal to emerging markets
Despite poor returns and rising geopolitical tensions, pension funds are maintaining some level of exposure to emerging markets – and even anticipate that opportunities will emerge
Veritas optimistic about real estate prospects after second year of losses
Finnish pensions insurer posts 8.4% return for 2024, as customer numbers surge
Hedge fund gains help Varma to 10.2% in 2024; Elo, VER return 8.5%, 9.0%
Weak economic situation in Finland reflected in increasing credit losses due to customers, Elo reveals
IPE Nordic Briefing: Sweden’s national pensions buffer funds to be trimmed down
Plus: ATp on guarantee-based business model; Norway’s SWF returns
Keva, Ilmarinen funding rates boosted by 10.4%, 8.6% returns
Strong solvency and improved efficiency directly seen by clients as lower prices, says Ilmarinen CEO
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