The State Pension Fund of Finland

The State Pension Fund of Finland (VER) was established in 1990 to balance state pension expenditure. VER invests pension assets and helps the state to prepare for financing future pensions. VER is a long-term investor characterised by a high standard of professionalism and an ethical code of conduct. VER operates as part of the prefunded Finnish pension system.




VER’s five-year average annual return (1 October 2015 – 30 September 2020)


VER’s ten-year average annual return (1 October 2010 – 30 September 2020)


VER’s average annual return 1 January 2001 – 30 September 2020

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VER 30 years

2020 marks the 30th anniversary of the establishment of the State Pension Fund (VER). VER’s mission is to prepare for future state pension expenditure and equalise the cost. The assets managed by VER total approx. EUR 20 billion.



VER commences operations under the auspices of the State Treasury.


A law is enacted to channel state employers and employees’ pension contributions to VER.


Current investment activities are commenced and an in-house organisation created for VER.


VER’s transfers to the government budget exceed pension contribution income.


Over the years, VER has generated value added for the state worth over EUR 6 billion.

2020-10-30 14:48
VER had EUR 254 million invested in commercial papers on 31 August 2020 and EUR 204 million on 30 September 2020.
2020-08-13 15:27
VER had EUR 343 million invested in commercial papers on 30 June 2020 and EUR 319 million on 31 July 2020. Investments have been made in the commercial papers of more than 20 companies. The number of commercial papers on offer decreased significantly during the summer.
2020-06-10 12:26
On 31 May 2020, VER had EUR 402 million invested in commercial papers. Investments have been made in the commercial papers of 27 companies.
2020-04-14 15:14
On 31 March 2020, VER had EUR 280 million invested in commercial papers and on 8 April 2020 EUR 311 million. Investments have been made in the commercial papers of 25 companies.
On 30 September 2020, VER’s investment assets totalled EUR 19.8 billion. During the first three quarters, the return on investments at fair values was -2.5 per cent. The average nominal rate of return over the past five years (1 October 2015–30 September 2020) was 4.8 per cent and the annual ten-year return 5.1 per cent.


The market value of VER's investment portfolio was EUR 19.8 billion on 30 September 2020.