A secure future for everyone

Annual and Sustainability Report 2022
Varma’s responsibility for managing pension assets, and for our customers, employees and shared environment spans far into the future. We are building a world that is sustainable for future generations.

The year in figures

  • Return on investments: -4.9%
  • Value of investments: €56.2 bn
  • Solvency: €13.3 bn
  • Efficiency: 70%

Annual and Sustainability Report 2022

Read about Varma’s key results and sustainable actions.

While the world was in turmoil, we focused on securing pensions

The year 2022 will go down in history as the year that brought geopolitical and safety themes to light in a new way. For Varma, this meant that focussing on our core task, securing pensions, was even more important.

Goals and results

Our objective is to secure high-quality pension provision for our customers, foster strong solvency, operate efficiently and guarantee the positive development of premium income.

  • Ninety per cent of new pension recipients had their pension paid during the first month of their pension entitlement.
  • Varma is the most solvent earnings-related pension company in Finland. Our solvency remained at a sustainable level throughout the year, despite the challenging investment environment.
  • We manage pension cover efficiently. We used 70 per cent of the amount reserved for operating expenses.
  • Total payroll, which forms the foundation for contribution income, increased by seven per cent. Premiums written totalled EUR 6.1 billion. 

Read more about our goals and results

A secure future for everyone

Through our sustainability work we are building a better world for current and future generations. For Varma, sustainability means first and foremost taking care of pension assets and pensions payments, investing responsibly, and promoting sustainable working life.

Correct pensions on time

We process pension applications swiftly. We issue old-age pension decisions in an average of five days.

Sustainability of our own operations and the value chain

We take into account the impacts of our operations on the environment and society.

Carbon-neutral investment portfolio 2035

Mitigating climate change is one of our key responsibility targets. We sharpened our climate targets in 2022.

Varma supports work ability

We promote sustainable working life and help our customers anticipate and manage disability risk.

Responsibility for Varma employees

For us, responsibility for our employees means a flexible and modern work culture, continuous competence development, motivating remuneration, equal treatment and taking care of work ability.