Securely from one decade to the next

Ilmarinen is Finland’s oldest pension company. We have taken care of Finnish pensions for more than five decades. And continue to do so.

Ilmarinen is as old as Finland’ earnings-related pension system. Ilmarinen was established in 1961 by Finland’s largest insurance companies and six smaller insurers. 

 We will continue to do what we have always been doing: taking care of the pensions of Finnish employees and entrepreneurs.

 History of Ilmarinen

1961 Finland’s first earnings-related pension company comes into existence on 14 December 1961. The company is named Ilmarinen based on an old accident insurance company situated in Vyborg. Operations are started up in a flat located at Yrjönkatu 17 in the centre of Helsinki.

1962 The father of the Finnish earnings-related pension system, mathematician Teivo Pentikäinen, becomes Ilmarinen’s first President and CEO. 

1962 Aarne Lehtonen is the first recipient of a pension paid out by Ilmarinen. 

1967 Ilmarinen moves into new premises on Eerikinkatu, in the heart of Helsinki.

1977 Legal scholar Juhani Salminen becomes Ilmarinen’s second CEO.

1984 Sampo exits from its holdings in Ilmarinen. Ilmarinen becomes a subsidiary of Pohjola.

1991 Kari Puro, D. Med. Sc. and political scientist, becomes the third CEO.

1998 Ilmarinen becomes a mutual company, i.e. the customers become the company’s owners. As a result Ilmarinen’s name is changed to Ilmarinen Mutual Pension Insurance Company.

2002 Ilmarinen moves into a new office building at Porkkalankatu 1 in Ruoholahti, Helsinki.

2005 Ilmarinen sells its shares in Pohjola to OKO Bank. The result is a strong coalition in the Finnish financing sector consisting of Ilmarinen, Pohjola and the OP Group.

2007 Economist Harri Sailas becomes Ilmarinen’s fourth President and CEO.

2013 Ilmarinen gains its 60,000th self-employed customer.

2015 Timo Ritakallio,  LL.M., MBA, becomes Ilmarinen’s fifth President and CEO.

2018 Earnings-related pension company Etera merged into Ilmarinen. Ilmarinen will become Finland's largest private sector earnings-related pension insurer.

2018 Jouko Pölönen, M.Sc. (Econ. & Bus. Adm.), eMBA becomes Ilmarinen’s sixth President and CEO.