“Pension cover concerns us all” – Read the report to find out how we managed your pension cover in 2019
Ilmarinen’s annual and sustainability report provides a full view into how we managed your pension cover in 2019. In addition, it sheds some light on how pension cover influences practically each and every person living in Finland in various life situations.
“Pension cover is a matter that concerns us all. We work for the success of our society and by achieving good results we also provide security in the coming years and decades. From Ilmarinen’s and our customers’ perspective, 2019 was an excellent year. We updated our strategy, renewed our organisation and enhanced our operations,” says Ilmarinen’s President and CEO Jouko Pölönen.
The number one topic related to pensions in 2019 was the birth rate and the future generations. Today’s children and those who are not yet born will pay our pensions in the future. At present, the responsibility for financing lies with those who are currently working.
“Our customers’ success is important to us too. Employment and economic growth have an impact on investment returns and paid wages. The development of the payroll is directly reflected in the pension contributions that we collect to finance pensions.”
In Ilmarinen’s annual and sustainability report, you can easily find information on your pension cover, regardless of whether you are an employee or an entrepreneur. You can find a review of how earnings-related pension insurance secures your income already during your career.
“The annual and sustainability report is a key source of information as to how we manage your pension cover and what kind of information we disclose concerning our work. We hope that open discussion about the goals of our work will continue at the latest once you have read our report,” says Joona Raudaskoski, Sustainability Manager at Ilmarinen.
“The reader will, for example, gain insight into the reasons why it is best to maintain work ability already before it starts to decline and the consequences of neglecting the maintenance of work ability for individuals and society as a whole. The report also provides current information on today’s pensioners: what their income level is and where they live.”
Responsible investment is long-term investment
In early 2020, the coronavirus has emerged as a new global concern, rattling the investment market and the general economic situation.
“The virus pandemic challenges the whole of society and is pushing economies into a recession, but hopefully its impacts will be temporary. In emergency situations, the top priority is to safeguard health, safety and the continuity of income while securing workplaces. The solvency of pension companies creates a buffer against market volatility and enables long-term investing,” says Pölönen.
The section that deals with the investing of pension assets offers a review of the targets of long-term investments: how we secure the pensions of future generations by investing our shared pension assets productively, securely and responsibly.
In 2019, Ilmarinen set as a goal to invest pension assets carbon neutrally by the end of 2035. The first interim targets towards this goal were published in February 2020. Our goal is to help ensure that our investees deliver real emission reductions, which result in a decline in total emissions.
The carbon neutrality target is part of Ilmarinen’s long-term efforts to safeguard pension assets. The goal takes into account the risks and opportunities created by climate change for the economy.
Ilmarinen was also recognised for its efforts to promote responsible investment. In the IRRI 2019 survey conducted among international investors, Ilmarinen was evaluated as an exemplary investor by its peers. RAKLI recognised Ilmarinen’s long-term efforts with RAKLI’s Developer of the Year 2019 award.
“These awards show that our work has been noticed. What matters most is that good practices spread. The more investors take into account sustainability issues, the easier it becomes to invest pension assets responsibly,” says Anna Hyrske, Head of Responsible Investments at Ilmarinen.
- Download the report: Responsible for your pension – Ilmarinen’s annual and sustainability report 2019
For more information, please contact:
Joona Raudaskoski, Sustainability Manager, +358 10 284 2113