Assets in the huge investment portfolio of Keva, the pension fund for local government staff in Finland, generated EUR 2.6 billion in returns in the first nine months of this year. It is a profit of 5.3 percent on a diversified collection of assets, and higher than the 4.2 percent the fund produced for the same period in 2016. But the pension fund warns that creating investment returns will become increasing important in future as its membership profile shifts.
"The difference between the pension contributions from employers and employee customers and the pensions we pay will turn slightly negative this year according to our estimates, for the first time in the history of Keva," said the pension fund's chief executive Timo Kietäväinen on release of third quarter results.
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