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 trumpets biggest investment yet with €2.3bn in US climate ETF
Finnish pensions insurer invests in Invesco New-York ETF launch, with fund tailored to its own needs
Varma invests €500m in made-to-measure Japanese low-emission ETF
Finnish pension firm’s listed chief says Varma will carry on creating more sustainability products
Varma bemoans scant plans by high-risk firms around biodiversity loss
Finnish pension provider says survey of attitudes among electricity mining, food companies, and others, shows only 9% have biodiversity action plan
Nordic FSA chiefs urge EU regulators to simplify financial rulebook
Simpler rules should be enforced by ‘risk-based supervision with strong discretionary tools’, Nordic watchdogs tell EIOPA, ESMA, EBA heads
Finnish pension majors generate 7%-plus returns on strong equities
Global economic development outlook poses challenges for the actions of the central banks, says Keva CIO
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
Interviews
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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.
#12 Leaders in Investment podcast: Conversation with Jaakko Kiander, Chief Executive Officer, Keva in Finand
Jaakko Kiander, the CEO of Keva, Finland’s largest pension provider, which looks after state and local government pensions there as well as administering the pensions of other public sector organisations talks to IPE Editorial Director Liam Kennedy.
Varma trumpets biggest investment yet with €2.3bn in US climate ETF
Finnish pensions insurer invests in Invesco New-York ETF launch, with fund tailored to its own needs
IPE Nordic Briefing: Norway’s SWF calls for lift of general freeze on Russian assets
Plus: Clarity for Icelandic pension funds on legal situation around provisions for changed life expectancy; Sweden’s financial watchdog on increased pension transfers
Varma invests €500m in made-to-measure Japanese low-emission ETF
Finnish pension firm’s listed chief says Varma will carry on creating more sustainability products
Nordic Region pensions funds report 2024: Finland's funds face call for greater defence investment
Allocating capital to preparedness could boost European competitiveness
IPE Nordic Briefing: Iceland preps review of national pensions sytem
Plus: Iceland schemes reject banking rules; Sweden’s watchdog warns of risks for consumers on pension transfers
Varma bemoans scant plans by high-risk firms around biodiversity loss
Finnish pension provider says survey of attitudes among electricity mining, food companies, and others, shows only 9% have biodiversity action plan
Veritas: Finnish pension insurer seeks in-house efficiency
Veritas CIO Laura Wickström talks to Pirkko Juntunen about the challenges and opportunities of running a lean but efficient internal investment team
Nordic FSA chiefs urge EU regulators to simplify financial rulebook
Simpler rules should be enforced by ‘risk-based supervision with strong discretionary tools’, Nordic watchdogs tell EIOPA, ESMA, EBA heads
Finnish pension majors generate 7%-plus returns on strong equities
Global economic development outlook poses challenges for the actions of the central banks, says Keva CIO
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