työeläkevakuuttajien

Työeläkevakuuttajat are Finnish companies responsible for managing mandatory occupational pensions. These companies, also known as työeläkevakuutusyhtiöt, operate under the supervision of the Finnish Financial Supervisory Authority (Finanssivalvonta). Their primary role is to collect contributions from employers and employees, invest these funds prudently, and pay out pension benefits to individuals upon retirement.

The Finnish system of occupational pensions is divided into several earnings-related pension schemes, each managed by different työeläkevakuuttajat. These include the TELA (Työeläkevakuuttajat ry) sector, which covers most private sector employees, and specific schemes for public sector employees, self-employed individuals, and certain other professional groups. Each työeläkevakuuttaja manages its own pool of assets and is responsible for ensuring its solvency and ability to meet its pension obligations.

Contributions to these pension schemes are determined by law and are based on an individual's earnings. Employers and employees each pay a portion of the contribution, with the rates varying based on age and employment sector. The collected funds are invested in a diversified portfolio of assets, including stocks, bonds, and real estate, with the aim of generating returns to cover future pension payments.

When an individual reaches the statutory retirement age, the työeläkevakuuttaja responsible for their pension calculates and disburses the retirement benefit. The amount of the pension is based on the individual's cumulative earnings and the pension accrual rate applicable during their working life. Työeläkevakuuttajat also handle other types of occupational pensions, such as disability pensions and survivor pensions.