Transfer statistics 1/2024 published
The number of earnings-related pension insurance policies transferred from one pension insurance company to another totalled over 6 400 between January-March: transfers under the Employees Pensions Act (TyEL) numbered 2 989 and under the Self-Employed Persons’ Pensions Act (YEL) 3 467. These data are derived from the transfer statistics 1/2024, published today.
Policyholders can transfer their TyEL/YEL policies from one pension insurance company to another provided that the earnings-related pension insurance has been obtained from the same company for at least one year before the transfer. Transfers between companies have four deadlines during the year: on the first day of January, April, July and October.
Change in statistics
In future, we will use a new statistical metric to express the volume of transfers between different pension insurance companies. Instead of the income from TyEL (employee) pensions levied using a basic rate, we will use the salary amount that is subject to TyEL pension insurance.
We have made this change because from 2023 onwards, a new expense loading charge has been levied. The basic rate no longer includes an expense loading component. Thus, the premium income we previously reported using this metric no longer corresponds to the total premium income related to the transfer of policies between providers. From the policy transfers of 2024 onwards, our website will not report the premium income from insurance policies that are transferred between providers. Instead, it will report the amounts of relevant TyEL salaries and income for YEL (entrepreneur’s) pension insurance purposes.
The TyEL salary amounts for the transfers between January-March was EUR 1,092,733 thousand and the income for YEL pension insurance EUR 84,456 thousand.
More detailed information about the transfer percentages and the earlier statistics are available on our page Transfers of policies.