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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.

 

 

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24

government officials in permanent positions

at the State Pension Fund.

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VER as an Organisation

Established in 1990, the State Pension Fund (VER) is an off-budget entity. Through the Fund, the state prepares to finance future pensions and balance pension expenditure over time.

Premiums are paid to the State Pension Fund by the employers and employees covered by the state pension system.  All state pensions are paid out of the appropriations allocated for this purpose in the government budget.

 

Key Figures 2015—2019

  2015 2016 2017 2018 2019
Total investments (MEUR) 17,853 18,767 19,586 18,486 20,588
Return on investments % 4.9 6.7 6.6 -3.4 13.8
Income from pension contributions (MEUR) 1,659 1,498 1,427 1,442 1,497
Net premiums (MEUR) -604 -292 -401 -417 -396
Transfer to state budget (MEUR) 2,263 1,1790 1,827 1,859 1,894
Pension liability (MEUR) 95,700 93,000 92,600 92,100 92,700
Funding ratio % 19 20 21 20 22

 

EN Q4 2019 16.png

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key figures

40%

The pensions to be paid out by the state are included in the government budget to which VER transfers an amount equivalent to 40 per cent of the annual pension expenditure.

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