Finland: Pensions and Investment News and Analysis
Finland’s 2025 pension reform takes a measured approach to strengthening the system, with lower contribution rates, increased equity exposure, and a new inflation-linked stabiliser. Major funds are also shifting toward defence and dual-use sectors. These changes aim to boost long-term returns, align with national priorities, and modernise the system for future generations.
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
TELA warns domestic investing bias harmful for Finnish pension fund returns
Pensions alliance TELA speaks out in face of pressure for earnings-related pension funds to support domestic economy
Elo acts to protect solvency amid choppy markets
Finnish pension insurers Elo and Varma returned 1.5% and 1.7%, respectively, in the first half of the year
Ilmarinen profits from bonds in first half, and tops Keva’s flat return
Municipal pensions giant Keva blames “devaluation of dollar’ for its narrow overall investment loss
Keva adopts ethical principles guiding own use of artificial intelligence
Finnish pensions giant says code drawn up for use of the emerging technology is mainly about risk management and good governance
Finnish pensions lobby spurns importing Swedish-style private investment system
‘Occupational pension system far too valuable to be sacrificed to efforts to promote mass capitalism,’ says Sokka
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
Interviews
- Previous
- Next
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.
TELA warns domestic investing bias harmful for Finnish pension fund returns
Pensions alliance TELA speaks out in face of pressure for earnings-related pension funds to support domestic economy
Elo acts to protect solvency amid choppy markets
Finnish pension insurers Elo and Varma returned 1.5% and 1.7%, respectively, in the first half of the year
Ilmarinen profits from bonds in first half, and tops Keva’s flat return
Municipal pensions giant Keva blames “devaluation of dollar’ for its narrow overall investment loss
Keva adopts ethical principles guiding own use of artificial intelligence
Finnish pensions giant says code drawn up for use of the emerging technology is mainly about risk management and good governance
Finnish pensions lobby spurns importing Swedish-style private investment system
‘Occupational pension system far too valuable to be sacrificed to efforts to promote mass capitalism,’ says Sokka
VER chief Timo Löyttyniemi to retire early next year
High-profile Finnish pensions CEO says has enjoyed his “vantage point in investment markets”
IPE Nordic Briefing: Norway opens Arctic division of SWF
Plus: NBIM responds to EU consultation on capital markets supervision; AkademikerPension CIO warns of targeted ads impact
Finnish FSA rapped for overreach in draft pensions reform rules
Pensions lobby group TELA adds plea for disability risk management to be defined in law
Nordic pension funds hold off on dialling down strategic US exposure
Danish pension funds favoured European equities in Q1, central bank data shows
Ilmarinen CEO Jouko Pölönen poached by Finnish finance group eQ
Pölönen to continue at Finnish pensions insurer for the next six months, or until a successor is found
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
Copyright © 1997–2025 IPE International Publishers Limited, Registered in England, Reg No. 3233596, VAT No. 685 1784 92. Registered Office: 1 Kentish Buildings, 125 Borough High Street, London SE1 1NP
Site powered by Webvision Cloud