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Finnish pension system in a nutshell

Article 28.4.2022

Finland has one of the best pension systems in the world - and that’s a fact. But if you’re starting a business in Finland, you might be wondering why it’s mandatory for entrepreneurs to take out pension insurance. Or for employers to get pension insurance for their employees? We are here to help you!

Finnish pension system in a nutshell
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  1. Ilmarinen’s cost-effectiveness continues to guarantee our customers affordable TyEL contributions
    In 2026, the administrative costs of Ilmarinen’s customers will be no more than 0.18 per cent of the payroll. We have made our operations more efficient every year, which means that Ilmarinen’s customers can continue enjoying affordable TyEL contributions when it comes to the administrative cost. The administrative cost is part of the TyEL insurance contribution.
    Read news article Ilmarinen’s cost-effectiveness continues to guarantee our customers affordable TyEL contributions
  2. Return on Ilmarinen’s investments was 2.1 per cent – solvency was strong and cost-effectiveness at a good level
    The return on Ilmarinen’s investments was 2.1 per cent in January–June, or EUR 1.3 billion. Investment assets increased to EUR 64.0 billion and solvency capital to EUR 14.0 billion. This cost-effectiveness translates into lower premiums for clients.
    Read news article Return on Ilmarinen’s investments was 2.1 per cent – solvency was strong and cost-effectiveness at a good level
  3. Ilmarinen and MYRY start cooperation – aim is to better support and secure micro and solo entrepreneurs
    The cooperation strengthens the position of both parties and brings concrete benefits to micro and solo entrepreneurs all over Finland.
    Read news article Ilmarinen and MYRY start cooperation – aim is to better support and secure micro and solo entrepreneurs
  4. Mikko Mursula Appointed CEO of Ilmarinen
    The Board of Directors of Ilmarinen has appointed M.Sc (Econ.) Mikko Mursula as the new CEO of Ilmarinen. Mursula has previously served as Ilmarinen’s Chief Investment Officer and Deputy CEO.
    Read news article Mikko Mursula Appointed CEO of Ilmarinen
  5. Ilmarinen's CEO changes
    Jouko Pölönen, CEO of Ilmarinen, has announced that he will move to a new position outside the company. The search for a new CEO starts immediately.
    Read news article Ilmarinen's CEO changes
  6. ​​Greenhouse gas emissions of Ilmarinen’s pension investments decreased significantly​
    The carbon intensity of Ilmarinen’s listed investments decreased significantly from 2020. This is reflected in Ilmarinen’s first statutory sustainability report. “We have systematically implemented measures in line with our climate roadmap, and this has produced results,” says Karoliina Lindroos, Head of Responsible Investments at Ilmarinen.
    Read news article ​​Greenhouse gas emissions of Ilmarinen’s pension investments decreased significantly​
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