The Finnair Pension Fund transferred its pension liabilities under the Employees’ Pensions Act (TEL) to the Ilmarinen Mutual Pension Insurance Company on July 1, 2005.
With the transfer of these pension liabilities Ilmarinen will now handle the pension cover of some 8,700 Finnair employees. At the end of 2004, the Finnair Pension Fund’s pension liabilities totalled EUR 775 million, of which the TEL pension liabilities now transferred to Ilmarinen amounted to EUR 454 million. Although the Finnair Pension Fund will continue to operate as a category A pension fund providing supplementary pension insurance, the management of category A insurance cover was also transferred to Ilmarinen on July 1, 2005.
Ilmarinen Mutual Pension Insurance Company specializes in managing statutory earnings-related pension insurance under the Employees’ Pensions Act (TEL) and the Self-Employed Persons’ Pension Act (YEL). Established in 1961, Ilmarinen had technical provisions of EUR 16.375 billion, and investments of EUR 17,635 billion, in 2004.
Illmarinen has been the Swiss Life Network exclusive Network Partner in Finland for TEL business since 1987.
For more information, please visit www.ilmarinen.fi
Ilmarinen Mutual Pension Insurance Company specializes in managing statutory earnings-related pension insurance under the Employees’ Pensions Act (TEL) and the Self-Employed Persons’ Pension Act (YEL). Established in 1961, Ilmarinen had technical provisions of EUR 16.375 billion, and investments of EUR 17,635 billion, in 2004.
Illmarinen has been the Swiss Life Network exclusive Network Partner in Finland for TEL business since 1987.
For more information, please visit www.ilmarinen.fi