Regulation of pension scheme

Earnings-related pensions and earnings-related pension insurance is regulated by laws and statutes, instructions, principles and insurance terms and conditions. The Ministry of Social Affairs and Health prepares the earnings-related pension acts.

The Finnish Centre for Pensions issues recommendations on the application of  earnings-related pension acts. The recommendations are drawn up in cooperation with the authorised pension providers.

The actuarial principles that define the insurance activities, as well as the insurance terms and conditions, are prepared in cooperation with the parties to the pension scheme and the ministries. The actuarial principles determine, among other things, the insurance contributions and the required return for pension assets. The insurance terms and conditions define the insurance contract between employers and authorised pension providers.

The authorised pension providers’ investment operations are governed by investment regulations and requirements concerning solidity and assets covering technical provisions.