Transfers of policies between pension insurance companies
Pension insurance companies compete against each other to win the business of enterprises in the private sector. Employer enterprises and self-employed persons can take out earnings-related pension insurance from the pension insurance company of their choice. They can also transfer their earnings-related pension insurance from one company to another if they wish to do so. Competition between pension insurance companies and the transfer of policies from one company to another can be illustrated by so-called transfer statistics.
Content of this page
Grounds for statistics
It is possible for a policyholder, i.e. an employer or a self-employed person, to transfer their employment pension insurance from one company to another on four dates a year. The transfers take place on the first day of January, April, July and October. The policy is transferred to a new employment pension company three months after the transfer date. A prerequisite for the transfer of an earnings-related pension insurance policy is that the policy has been with the same company for at least one year before the transfer.
Based on the information we receive from pension insurance companies, we compile transfer statistics four times a year and publish them according to the following schedule:
- In April, we publish Transfers 1 statistics, which include insurance transfers reported in January–March.
- In July, we publish Transfers 2 statistics, which include insurance transfers reported in April–June.
- In October, we publish Transfers 3 statistics, which include insurance transfers reported in July–September.
- In January, we publish aggregate statistics for the previous calendar year, which describe the aggregate data for the entire previous year.
Latest statistics: Transfers 2/2023
Total volume of transfers under the employees Pensions Act (TyEL): EUR 117,648,000
Number of TyEL policies transferred: 2,099
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL): 2,512
| Transfers as a percentage of | 2/2023 | 1/2023 | 2/2022 |
|---|---|---|---|
| TyEL premium income | 0.7 % | 1.0 % | 0.7 % |
| TyEL insurance portfolio | 1.5% | 2.0% | 1.1 % |
| YEL insurance portfolio | 1.1 % | 1.5 % | 1.1 % |
For more information, please call
Mika Aho (Elo), tel. +358 40 722 0200
Jorma Hokkanen (Ilmarinen), tel. +358 10 284 3424
Staffan Åberg (Veritas), tel. +358 50 560 0135
Mika Pitkälä (Varma), tel. +358 40 519 5147
Maija Schrall (Tela), tel. +358 40 839 6658
Previous statistics
Transfers 2/2023
Total volume of transfers under the employees Pensions Act (TyEL): EUR 117,864,000
Number of TyEL policies transferred: 2,099
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL): 2,512
| Transfers as a percentage of | 2/2023 | 1/2023 | 2/2022 |
|---|---|---|---|
| TyEL premium income | 0.7 % | 1.0 % | 0.7 % |
| TyEL insurance portfolio | 1.7 % | 2.0 % | 1.1 % |
| YEL insurance portfolio | 1.1 % | 1.5 % | 1.1 % |
Transfers 1/2023
Total volume of transfers under the employees Pensions Act (TyEL): EUR 171,058,000
Number of TyEL policies transferred: 2,856
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL): 3,254
| Transfers as a percentage of | 1/2023 | 4/2022 | 1/2022 |
|---|---|---|---|
| TyEL premium income | 1.0 % | 1.2 % | 0.7 % |
| TyEL insurance portfolio | 2.0 % | 1.4 % | 1.5 % |
| YEL insurance portfolio | 1.5 % | 1.2 % | 1.4 % |
Transfers for the whole year 2022
| Total volume of transfers under the Employees Pensions Act (TyEL), EUR 1,000.00 | Number of TyEL policies transferred (pc) | Number of policies transferred under the Self-Employed Persons’ Act (YEL), pc | |
|---|---|---|---|
| Year 2022 | Year 2022 | Year 2022 | |
| Elo | -68 643 | -107 | 410 |
| Ilmarinen | 22 270 | -1 537 | -1 392 |
| Varma | 34 875 | 1 594 | 293 |
| Veritas | 11 577 | 50 | 689 |
| Transfers as a percentage of | Year 2022 | (Year 2021) | 4/2022 | 3/2022 | 2/2022 | 1/2022 |
|---|---|---|---|---|---|---|
| TyEL premium income | 4.0 % | 3.7 % | 1.2 % | 1.3 % | 0.7 % | 0.7 % |
| TyEL insurance portfolio | 5.9 % | 5.9 % | 1.4 % | 1.9 % | 1.1 % | 1.5 % |
| YEL insurance portfolio | 4.8 % | 4.9 % | 1.2 % | 1.1 % | 1.1 % | 1.4 % |
Transfers 3/2022
Total volume of transfers under the employees Pensions Act (TyEL): EUR 206,579,000
Number of TyEL policies transferred: 2,789
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL): 2,438
| Transfers as a percentage of | 3/2022 | 2/2022 | 3/2021 |
|---|---|---|---|
| TyEL premium income | 1.3 % | 0.7 % | 1.4 % |
| TyEL insurance portfolio | 1.9 % | 1.1 % | 1.3 % |
| YEL insurance portfolio | 1.1 % | 1.1 % | 1.1 % |
Transfers 2/2022
Total volume of transfers under the employees Pensions Act (TyEL): EUR 117,309,000
Number of TyEL policies transferred: 1,549
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL): 2,279
| Transfers as a percentage of | 2/2022 | 1/2022 | 2/2021 |
|---|---|---|---|
| TyEL premium income | 0.7 % | 0.7 % | 0.6 % |
| TyEL insurance portfolio | 1.1 % | 1.5 % | 2.0 % |
| YEL insurance portfolio | 1.1 % | 1.4 % | 1.1 % |
Transfers 1/2022
Total volume of transfers under the employees Pensions Act (TyEL): EUR 118,160,000
Number of TyEL policies transferred: 2,180
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL): 2,929
| Transfers as a percentage of | 1/2022 | 4/2021 | 1/2021 |
|---|---|---|---|
| TyEL premium income | 0.7 % | 0.8 % | 0.9 % |
| TyEL insurance portfolio | 1.5 % | 1.3 % | 1.4 % |
| YEL insurance portfolio | 1.4 % | 1.2 % | 1.4 % |
Transfers for the whole year 2021
| Total volume of transfers under the Employees Pensions Act (TyEL), EUR 1,000.00 | Number of TyEL policies transferred (pc) | Number of policies transferred under the Self-Employed Persons’ Act (YEL), pc | |
|---|---|---|---|
| Year 2021 | Year 2021 | Year 2021 | |
| Elo | -88 643 | 81 | 557 |
| Ilmarinen | 96 832 | -1 867 | -981 |
| Varma | -26 439 | 1 482 | -251 |
| Veritas | 18 250 | 313 | 675 |
| Transfers as a percentage of | Year 2021 | (Year 2020) | 4/2021 | 3/2021 | 2/2021 | 1/2021 |
|---|---|---|---|---|---|---|
| TyEL premium income | 3.7 % | 3.5 % | 0.8 % | 1.4 % | 0.6 % | 0.9 % |
| TyEL insurance portfolio | 5.9 % | 4.6 % | 1.3 % | 1.3 % | 2.0 % | 1.4 % |
| YEL insurance portfolio | 4.9 % | 4.8 % | 1.2 % | 1.1 % | 1.1 % | 1.4 % |
Transfers 3/2021
Total volume of transfers under the employees Pensions Act (TyEL): EUR 201,214,000
Number of TyEL policies transferred: 1,887
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL): 2,311
| Transfers as a percentage of | 3/2021 | 2/2021 | 3/2020 |
|---|---|---|---|
| TyEL premium income | 1.4 % | 0.6 % | 1.5 % |
| TyEL insurance portfolio | 1.3 % | 2.0 % | 1.3 % |
| YEL insurance portfolio | 1.1 % | 1.1 % | 1.2 % |
Transfers 2/2021
Total volume of transfers under the employees Pensions Act (TyEL): EUR 88,922,000
Number of TyEL policies transferred: 2,914
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL): 2,354
| Transfers as a percentage of | 2/2021 | 1/2021 | 2/2020 |
|---|---|---|---|
| TyEL premium income | 0.6 % | 0.9 % | 0.5 % |
| TyEL insurance portfolio | 2.0 % | 1.4 % | 0.8 % |
| YEL insurance portfolio | 1.1 % | 1.4 % | 1.1 % |
Transfers 1/2021
Total volume of transfers under the employees Pensions Act (TyEL): EUR 129,825,000
Number of TyEL policies transferred: 2,055
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL) : 2,832
| Transfers as a percentage of | 1/2021 | 4/2020 | 1/2020 |
|---|---|---|---|
| TyEL premium income | 0.9 % | 0.8 % | 0.8 % |
| TyEL insurance portfolio | 1.4 % | 1.2 % | 1.2 % |
| YEL insurance portfolio | 1.4 % | 1.2 % | 1.3 % |
