AMWatch

VER's transfer to Finnish state budget rises to EUR 1.91 billion

Nordic and US equities boosted total returns for the Finnish State Pension Fund (VER), helping the fund meet its obligations, as it faces an increase in the annual transfer it will have to make to the national budget next year.

Photo: VER

According to the founding law behind the Finnish State Pension Fund (VER), the fund has to transfer the equivalent of 40 percent of the pension costs for government employees to the national budget every year.

This year, those costs amounted to EUR 4.7 billion, which set the payment at EUR 1.88 billion, but Finland's aging population means that in euro terms, VER’s commitment grows by a few percentage points annually.

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