In practice, competition between pension insurance companies works so that policyholders (employer or entrepreneur) can transfer their earnings-related pension insurance policies from one company to another.

Transfers between companies can be done four times a year. The transfer times are: 1 January, 1 April, 1 July and 1 October. 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.

Statistical data on transfers are published four times a year. Statistics include information on insurance policies that will be transferred in the following months:

  • Transfers 1 -statistic, January-March
  • Transfers 2 -statistic, April-June
  • Transfers 3 -statistic, July-September
  • Transfers 4 -statistic, October-December.

Annual statistics on company-specific transfers are also compiled and published each year in January.

Transfers 2019

Total volume of transfers under the Employees Pensions Act (TyEL), EUR 1,000.00,
year 2019
Number of TyEL policies transferred (pc), year 2019 Number of policies transferred under the Self-Employed Persons’ Pensions Act (YEL), pc,
year 2019
Elo -68 741 -80 416
Ilmarinen -1 407 -6 -21
Varma 73 664 -40 -711
Veritas -3 515 126 316

Transfers as a percentage of Year 2019 (Year 2018) 4/2019 3/2019 2/2019 1/2019
TyEL premium income 5,1 % 5,2 % 1,2 % 2,0 % 0,8 % 1,1 %
TyEL insurance portfolio 5,8 % 6,0 % 1,4 % 1,9 % 1,1 % 1,5 %
YEL insurance portfolio 5,8 % 6,2 % 1,4 % 1,6 % 1,3 % 1,5 %

For more information, please call:

Matti Carpén (Elo), tel. +358 20 703 5165

Jorma Hokkanen (Ilmarinen), tel. +358 10 284 3424

Mika Paananen (Eläke-Veritas), tel. +358 45 200 3004

Mika Pitkälä (Varma), tel. +358 40 519 5147

Minna Lehmuskero (Tela), tel. +358 400 864 991