Finland

FINLAND - The e18bn Ilmarinen Mutual Pension Insurance Company has added tactical asset allocation and currency overlay to its portfolio in 2005 and started investing in commodities in as part of its active risk-taking and absolute return strategy.

FINLAND - The e6.9bn Valtion Elakerahasto, Finland's State Pension Fund, is set to foray into indirect real estate investment in 2005.

FINLAND - About 40,000 Finns could retire on an old-age pension in 2005, according to the Finnish Centre for Pensions.

FINLAND - Most employers support the new flexible retirement age introduced as part wide-reaching pension reform that took effect this year, a new study by the Finnish Centre for Pensions has found.

FINLAND - The earnings-related pension index will increase by 0.93% from the beginning of 2005, the former index for people of working age by 1.85% and the wage coefficient by 2.80%.

FINLAND - Reform of earnings-related pensions to be introduced in 2005 will considerably change pension provision accrued at a young age, the Finnish Centre for Pensions (FCP) says.

FINLAND - Major reform of the Finnish pension system to be introduced next year is not sufficient to counter the effects of imminent population ageing on the country's economy, says the Organisation for Economic Co-operation and Development (OECD).

FINLAND - The 2005 pension reforms will reduce pension expenditure in relation to earnings in the national economy by over eight percentage points, according to Hannu Uusitalo, director at the Finnish Centre for Pensions.

FINLAND - Despite efforts to encourage Finns to stay at work longer, most of them continue to retire at the age of 59 years, new research shows.

FINLAND - As part of the 2005 pensions reform, the pensions ceiling of 60% of wages on earnings-related private pensions will be abolished.