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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 for the whole year 2023

Total volume of transfers under the Employees Pensions Act (TyEL), EUR 1,000.00Number of TyEL policies transferred (pc)Number of policies transferred under the Self-Employed Persons’ Act (YEL), pc
Year 2023Year 2023Year 2023
Elo-59 963-930-167
Ilmarinen20 604-2 957-1 687
Varma21 2343 515963
Veritas18 125372891
Transfers as a percentage of Year 2023(Year 2022)4/20233/20232/20231/2022
TyEL premium income4.0 %4.0 %1.1 %1.2 %0.7 %1.0 %
TyEL insurance portfolio7.4 %5.9 %2.1 %1.8%1.5%2.0 %
YEL insurance portfolio5.1 %4.8 %1.3 %1.2 %1.1 %1.5 %

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 2023

Transfers for the whole year 2023

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 2023Year 2023Year 2023
Elo-59 963-930-167
Ilmarinen20 604-2 957-1 687
Varma21 2343 515963
Veritas18 125372891
Transfers as a percentage of Year 2023(Year 2023)4/20233/20232/20231/2023
TyEL premium income 4.0 %4.0 %1.1 %1.2 %0.7 %1.0 %
TyEL insurance portfolio7.4 %5.9 %2.1 %1.8 %1.5 %2.0 %
YEL insurance portfolio 5.1 %4.8 %1.3 %1.2 %1.1 %1.5 %

Transfers 3/2023

Total volume of transfers under the employees Pensions Act (TyEL): EUR 207,074,000
Number of TyEL policies transferred: 2,636
Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL): 2,585

Transfers as a percentage of3/20232/20233/2022
TyEL premium income 1.2 %0.7 %1.3 %
TyEL insurance portfolio 1.8%1.5%1.9 %
YEL insurance portfolio 1.2 %1.1 %1.1 %

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 of2/20231/20232/2022
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 of1/20234/20221/2022
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 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 2022Year 2022Year 2022
Elo-68 643-107410
Ilmarinen22 270-1 537-1 392
Varma34 8751 594293
Veritas11 57750689
Transfers as a percentage of Year 2022(Year 2021)4/20223/20222/20221/2022
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 of3/20222/20223/2021
TyEL premium income1.3 %0.7 %1.4 %
TyEL insurance portfolio1.9 %1.1 %1.3 %
YEL insurance portfolio1.1 %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 of2/20221/20222/2021
TyEL premium income0.7 %0.7 %0.6 %
TyEL insurance portfolio1.1 %1.5 %2.0 %
YEL insurance portfolio1.1 %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 of1/20224/20211/2021
TyEL premium income0.7 %0.8 %0.9 %
TyEL insurance portfolio1.5 %1.3 %1.4 %
YEL insurance portfolio1.4 %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 2021Year 2021Year 2021
Elo-88 64381557
Ilmarinen96 832-1 867-981
Varma-26 4391 482-251
Veritas18 250313675
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 of2/20211/20212/2020
TyEL premium income0.6 % 0.9 % 0.5 %
TyEL insurance portfolio2.0 % 1.4 % 0.8 %
YEL insurance portfolio1.1 % 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 1/20214/20201/2020
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 %

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