Finland Investment and Pensions
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 pension funds report 2025: ATP hits back at critics on risk structure
An academic discussion in a leading business journal has spilled over into a fully fledged debate with the fund’s leadership
TOP FINNISH PENSION FUNDS 2025
Pension fund/entity | Assets (€’000)
- Keva | 70,700,000
- Varma Mutual Pension Insurance Co. | 65,364,566
- Ilmarinen | 64,409,516
- Elo Mutual Pension Insurance Co. | 32,800,000
- Valtion Eläkerahasto (VER) | 24,240,100
©IPE Research; View the Top 1000 European Pensions Funds 2025 for a comprehensive market overview
IPE Nordic Briefing: Swedish manager slams FTN’s procurement process
Plus: Finland’s pensions debate continues ahead of next year’s general election
Finnish pensions sector lambastes talk of pension cuts
‘Debate about pension rights has caused a new blow to trust in the pension system,’ says Elo’s chief actuary
Trusted partners: Advising Europe’s pension funds
IPE’s survey of European consultants reveals a complex patchwork of client preferences
Listed equities: Beyond the Magnificent Seven, betting on the future of AI
America’s tech giants not only dominate equity indices; they are breaking records for capital expenditure on AI. How are European pension funds approaching their allocation to the Mag 7?
European pension funds report mixed results
Denmark’s ATP posts stellar results, while pension funds in the Netherlands were hit by underperforming interest rate hedges
TELA urges long-term reforms to support Finland’s pension system
‘Intergenerational fairness cannot be built and assessed only within the pension system,’ says lobby group ahead of 2027 election
‘Pension funds are economically interesting creatures with deep social relevance’
The outgoing CEO of Finnish pension fund lobby group TELA speaks to Rachel Fixsen about intellectual challenges, taking difficult advocacy positions and her future plans
Finnish pension funds reveal shrinking allocations to domestic market
Ilmarinen narrowly trumps nearest rival Varma on 2025 returns with 8.1%
IPE Nordic Briefing: Iceland sees pension fund merger activity
The country’s second-biggest pension fund, the Pension Fund of Commerce, LV, had entered talks with Birta, the number four pension fund, over a potential merger
Finnish pension fund majors benefit from surging domestic equities
Smallest pensions insurer, Veritas, beats Varma as well as Keva on 2025 returns with 8.7% gain after sticking with high equities exposure
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, *30.6.23, **15.11.23, ***10.6.22
©IPE Research; Sign up to IPE Profesional to see all the data in the latest country report
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IPE Nordic Briefing: Swedish manager slams FTN’s procurement process
Plus: Finland’s pensions debate continues ahead of next year’s general election
Finnish pensions sector lambastes talk of pension cuts
‘Debate about pension rights has caused a new blow to trust in the pension system,’ says Elo’s chief actuary
TELA urges long-term reforms to support Finland’s pension system
‘Intergenerational fairness cannot be built and assessed only within the pension system,’ says lobby group ahead of 2027 election
‘Pension funds are economically interesting creatures with deep social relevance’
The outgoing CEO of Finnish pension fund lobby group TELA speaks to Rachel Fixsen about intellectual challenges, taking difficult advocacy positions and her future plans
Finnish pension funds reveal shrinking allocations to domestic market
Ilmarinen narrowly trumps nearest rival Varma on 2025 returns with 8.1%
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