pension system (TyEL). The results show that current contribution rate is likely to be too low to finance the future higher … the expected increase in the contribution rate by increasing the share of stocks in the portfolios of the pension funds …. It is likely to do so, unless the increased risk causes unforeseen changes to the pension system, with sustainability …

The earnings-related pension system is partially pre-funded in Finland and has currently large reserves. This has … roused debate whether the pension funds should take a more active role in promoting employment, growth and domestic ownership … portfolios of the pension institutions. E.g., is it possible to invest the funds in a way that generates higher wage bill and …