Keva is the Finnish pension agency responsible for

pension A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments ...

s of

public sector The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, infra ...

workers in state,

municipal A municipality is usually a single administrative division having corporate status and powers of self-government or jurisdiction as granted by national and regional laws to which it is subordinate. The term ''municipality'' may also mean the go ...

, and

state church A state religion (also called religious state or official religion) is a religion or creed officially endorsed by a sovereign state. A state with an official religion (also known as confessional state), while not secular, is not necessarily a t ...

positions. Keva is responsible for the pensions of 1.3 million workers, and has €35.8 billion in

investment Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

s. The

corporation A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and r ...

is defined separately in the Municipal Pensions Act 13.6.2003/549. The name Keva derives from ''Kuntien eläkevakuutus'', "Pension

Insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

of the Municipalities". Keva covers a total of 1.2 million public sector employees and retirees. In 2017, revenue from contributions to the Keva pension scheme was around €4.8 billion and the market value of investments was around €51.9 billion.

References

Pension funds Financial services companies of Finland {{Finland-poli-stub