Competition law and economic perspectives on the Finnish statutory earnings-related pensions system

The Finnish statutory earnings-related pensions system has a well-established position under EU competition law. Consequently, the current system and its implementation do not pose particular legal problems as long as the founding principles of the system (its statutory nature, solidarity, and joint liability) are kept intact. From the perspective of EU competition law, a key aspect of the Finnish system is its nature as social insurance strictly governed by national laws and regulations, which also regulate the forms of statutory collaboration among pension insurance companies.

The Avance report (available only in Finnish) delves into the details of the Finnish system and its assessment under EU law. The report also discusses the role that competition among pension insurance companies should play from the perspective of the system’s efficient functioning.