Eläkeyhtiöt

Eläkeyhtiöt, often translated as pension companies or pension institutions, are organizations responsible for managing and paying out statutory and voluntary pension benefits in Finland. These companies play a crucial role in the Finnish social security system, ensuring that individuals receive their earned pension income upon retirement.

There are two main types of pension companies in Finland: the statutory pension insurance companies and the public sector pension institutions. Statutory pension insurance companies are private, mutually owned companies that operate on a non-profit basis. They manage the pension contributions collected from employers and employees and invest these funds to ensure future pension payments. The Finnish Centre for Pensions (Eläketurvakeskus) oversees the operations of these companies and coordinates the overall pension system.

Public sector pension institutions, such as Keva, are responsible for managing the pensions of municipal employees, state employees, and other public sector workers. Like their private sector counterparts, they collect contributions, invest funds, and administer pension payments.

The primary function of eläkeyhtiöt is to manage pension assets efficiently and to pay out pension benefits accurately and on time. They are regulated by Finnish law and supervised by the Financial Supervisory Authority (Finanssivalvonta) to ensure financial stability and compliance. Their operations are guided by principles of sound financial management and long-term sustainability to guarantee the future pension security of all Finns.