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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.

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 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 2021Year 2021Year 2021
Elo-88 64381557
Ilmarinen96 832-1 867-981
Varma-26 4391 482-251
Veritas18 250313675
Transfers as a percentage of Year (Year)
2021(2020)4/20213/20212/20211/2021
TyEL premium income3.7 %3.5 %0.8 %1.4 %0.6 %0.9 %
TyEL insurance portfolio5.9 %4.6 %1.3 %1.3 %2.0 %1.4 %
YEL insurance portfolio4.9 %4.8 %1.2 %1.1 %1.1 %1.4 %

For more information, please call:

Matti Carpén (Elo), tel. +358 20 703 5165
Jorma Hokkanen (Ilmarinen), tel. +358 10 284 3424
Mika Paananen (Veritas), tel. +358 45 200 3004
Mika Pitkälä (Varma), tel. +358 40 519 5147
Maija Schrall (Tela), tel. +358 40 839 6658

Previous statistics

Transfers in 2021

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 per cent 0.6 per cent 1.5 per cent
TyEL insurance portfolio 1.3 per cent 2.0 per cent 1.3 per cent
YEL insurance portfolio 1.1 per cent 1.1 per cent 1.2 per cent

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 of2/20211/20212/2020
TyEL premium income0.6 per cent0.9 per cent0.5 per cent
TyEL insurance portfolio2.0 per cent1.4 per cent0.8 per cent
YEL insurance portfolio1.1 per cent1.4 per cent1.1 per cent

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 1/20214/20201/2020
TyEL premium income 0.9 per cent0.8 per cent0.8 per cent
TyEL insurance portfolio 1.4 per cent1.2 per cent1.2 per cent
YEL insurance portfolio 1.4 per cent1.2 per cent1.3 per cent

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