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.
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 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, 21
-107
410
Ilmarinen
22 270
-1 537
– 1394
Varma
34 875
1 954
293
Veritas
11 577
50
689
Transfers as a percentage of
Year 2022
(Year 2021)
4/20212
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
4.9 %
4.9 %
1.2 %
1.1 %
1.1 %
1.4 %
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 in 2022
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 in 2021
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
