Voluntary agreement with a life insurance company

Statutory pension provision may be supplemented by voluntary private pension insurance taken out with a life insurance company.

In contrast to statutory pension insurance the life insurance company has no statutory joint liability. However, the legislation regarding insurance companies requires that the life insurance company has a substantial amount of surplus capital in addition to the pension assets in order to safeguard the insurance savings.

More information on private pension insurance can be obtained from the life insurance companies and the web pages of the Finnish Financial Ombudsman Bureau (FINE). On the web pages you can for instance print out a guidebook for choosing private pension insurance.

External links: The Finnish Insurance Ombudsman Bureau(only in Finnish), Federation of Finnish Financial Services