Pension matters directly influence a company’s result

Finland will soon have an even more diverse employment pension scheme, with greater variation in the retirement age of employees. Along with the 2017 pension reform, retirement ages will rise, which will mean a higher number of older employees in the workplace.

The changes will increasingly bring pension matters to the forefront in companies’ and organisations’ strategic planning activities. The retirement of the entire staff must be carefully examined.

Under our guidance, you will prepare a successful pension strategy that will help you manage retirement in your company. We will assist you in creating age management programmes and inform you on how to supplement your employees’ pension cover in the best possible way. We are a market leader in group pension insurance, with unique expertise and experience in supplemental pension solutions in Finland.

Together with our subsidiary Innova we offer comprehensive services related to managing the pensions of companies and organisations.

The right time to retire

The true ability and desire of employees to perform their work can vary considerably in different fields and jobs.

A company’s pension strategy can help the employer manage the retirement of its employees: costs, disability risks, impacts on productivity, and the transfer of competence. It makes it possible to advance or postpone retirement for different personnel groups if the situation calls for it, while at the same time ensuring that the employees can cope at work for a sufficiently long time.

Our experts can help your company build suitable pension models for implementing a successful pension strategy. When such models are created at the right time, the necessary financing can be secured for the arrangements. Good planning results in the best solutions for both the employer and the employees.

Arrangements that are planned at the right time end up costing less and enable correctly timed retirement. A successful pension model is a seamless part of total compensation.

The benefits of a pension strategy

  • Earnings impact: additional income (e.g. motivation for key employees), cost savings (e.g. disability pensions, inefficient working years)
  • Well-being at work: ensures the ability to cope at work and enables flexibility (part-time pension, lighter work or working hours)
  • Financing: with a system implemented at the right time, the costs related to retirement are covered effectively
  • The employer brand improves: a responsible employer is prepared also for its employees' retirement

Group pension insurance

Group pension insurance taken out by companies for their employees is by far the most effective way to supplement earnings-related pension. With the amount of earnings-related pension diminishing in future, there is growing interest in how to prepare for retirement and in the supplemental security offered by employers.

From the company's perspective, including supplementary pension as part of the overall reward system also enhances the company's image as an employer and could be a considerable competitive advantage in recruiting.

Group pension is a cost-effective reward option for the employer: it entails no additional labour costs and the payments are tax-deductible. The employee is required to pay taxes only upon retiring.

Today's supplementary pensions are based on defined-contribution schemes, meaning the employer commits to paying an agreed contribution instead of guaranteeing a certain level of pension. Pension is made up of accrued savings – from contributions and returns – paid out over an agreed period of time. This makes it possible for the employer to forecast the total pension costs and account for them as part of the employee's overall compensation. The employment contract establishes the extent to which the arrangement is binding.

Our long experience in offering supplementary pensions guarantees you insight that you won't find elsewhere.

Sesam is a group pension insurance intended for companies and organisations. Sesam can be used to supplement the statutory pension cover of the members of the group and/or to bring forward the retirement plans of the insured.

Age management programmes

In future, the challenges presented by the shift in the population's age structure will surface to a greater extent also in companies' personnel management. Businesses will have to plan how to carry out the retirement of aging personnel in a controlled manner and how to encourage employees to either extend their careers or retire according to the individual's work capacity and willingness to work. Age management programmes can help to transfer expertise within a company in a controlled manner.

Age management programmes can be linked to rewarding, which is an option that motivates employees. Solutions carried out using supplementary pensions are cost-effective both for the company and its employees.

For companies, the key thing is to prepare for retirement well ahead of time. Carefully planned and implemented age management programmes create savings for companies, increase the predictability of personnel management and improve the work ability of employees. They also enhance the company's positive employer image, both inside and outside the company.

We offer solutions such as shorter working hours, continuing at work and agreements concerning retirement age.

Consulting and reporting of pension arrangements

We serve our customers in all matters related to arranging pension cover, such as the comprehensive management of pension foundations and funds and reporting companies' pension costs. We help to establish new pension foundations and funds and offer them all of the management services they require.

Services for pension funds and foundations

We offer pension funds and foundations the finest expert services from establishing a fund to its management, reporting and wealth management. We serve pension funds and foundations at all stages of their operations.

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