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
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
Finland’s big three pension funds uneasy about outlook, after H1 5% returns
‘The end of the year already looks considerably more restless,’ says Keva CEO Jaakko Kiander
NBIM devises corporate disclosure set around online risks for children
Norwegian SWF manager works with UNICEF to highlight companies’ impact on children’s rights through their digital activities
VER chief calls for better market infrastructure to foster European innovation
News that Europe now outperforms US on 10-year venture capital returns is ‘springboard’ for creation of better capital market infrastructure this side of the Atlantic, says Löyttyniemi
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.
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
Pension funds on euro fixed income: navigating the rate cycle
We asked pension funds in Spain, Germany and Finland about their current views on European fixed income and credit as the ECB looks carefully at the timing and sequence of its rate cuts
Finland’s big three pension funds uneasy about outlook, after H1 5% returns
‘The end of the year already looks considerably more restless,’ says Keva CEO Jaakko Kiander
NBIM devises corporate disclosure set around online risks for children
Norwegian SWF manager works with UNICEF to highlight companies’ impact on children’s rights through their digital activities
IPE Nordic Briefing: Review of Sweden’s ITP occupational pension system
Skandia calls for ITP review; Sweden’s Fund Selection Agency on the look-out for sustainability/ESG platforms; Finland’s VER chief on capital market infrastructure
VER chief calls for better market infrastructure to foster European innovation
News that Europe now outperforms US on 10-year venture capital returns is ‘springboard’ for creation of better capital market infrastructure this side of the Atlantic, says Löyttyniemi
Preparation is key to countering pensions cyber risk
Pension funds face very real cyber security risks and must prepare for regulatory changes, such as the EU’s Digital Operational Resilience Act. IPE asked European pension funds about their strategies to deal with cyber crime
Majority of Finns prefer immigration to support pension financing
According to the latest Pension Barometer by the Finnish Centre for Pensions, 80% of respondents reject the notion of cutting pensions
Ilmarinen homes in on remuneration policies at Finnish companies
Finnish pensions heavyweight outlines its idea of a good reward system, after focusing on executive pay in AGM season, amid greater transparency
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