What is the Finnish Centre for Pensions striving for?
The Board of Directors has approved the new strategy of the Finnish Centre for Pensions as of 2022. The Finnish Centre for Pensions and its extensive interest groups share a common vision for the Finnish pension system. The vision crystalizes the importance of pensions for individuals’ income security and a pension system in financial equilibrium.
The vision can be summarised in two sentences: Earnings-related pensions are a central and trusted component of wellbeing. The pension system is financially sustainable, efficiently governed and promotes economic stability.
Due to declining birth rates, we are further away from this vision now than five years ago. That makes our efforts to reach the vision increasingly important.
I believe the vision also reflects the wishes of our citizens. I am sure everyone wants an important and a reliably managed pension in return for the contributions we pay. It must be credibly funded and efficiently implemented.
Earnings-related pensions are a central and trusted component of wellbeing. The pension system is financially sustainable, efficiently governed and promotes economic stability.
The strategy for 2022-2027 of the Finnish Centre for Pensions was named “For functional earnings-related pensions”. The name emphasizes that our operations ultimately aim at ensuring a reliable and smooth earnings-related pension system for our citizens.
Pensions are functional when they meet the set criteria regarding their funding and income security. The pension system is functional when its IT systems and services required to administer earnings-related pension insurance and social security are in order and the data is quickly and easily available for the needs of the insured. Our strategic goals are also linked to these aims.
Finnish Centre for Pensions turns 60
2021 is a year of celebration for the Finnish Centre for Pensions. The institution was founded in October 1961 to implement the earnings-related pension act that came into force in 1962. Thus Finnish earnings-relate pension security turns 60 in 2022.