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History of the Church Pension Fund

 

1991

The activities of the Church Pension Fund began in 1991, when the Church’s pension scheme was changed to a pension system partly funded by pension contributions. Any assets not being paid out as pensions were consolidated in the pension fund for the purpose of covering the future pension liability.

1999

In 1999, the Central Church Fund’s pension fund became a restricted fund. The pension fund operated as part of the Central Church Fund, but the assets of the pension fund were invested separately from the other assets of the Central Church Fund and the returns gained were directly allocated as income of the pension fund.

2012

The implementation of pension security in accordance with the Evangelical Lutheran Church Pensions Act was transferred to Keva as of 1 January 2012. Keva provides the employment pension services for the personnel of local government, the State, the Evangelical Lutheran Church and the Social Insurance Institution (Kela).

2016

The Church Pension Fund was separated from the Central Church Fund to become an independent public law legal person on 1 January 2016 as a result of the entry into force of the currently valid provision concerning the pension fund as given in Chapter 22, Section 6 of the Church Act. According to the entry into force provision for this section, the Church Pension Fund shall continue the activities of the pension fund of the Central Church Fund and, therefore, the assets, rights and obligations of the Central Church Fund’s pension fund transferred to the Church Pension Fund on 1 January 2016.

Furthermore, the entry into force provision stipulated that no transfer tax or other tax consequence would be levied on this transfer of assets, rights and obligations. Act on the Amendment of the Church Act: (1602/2015) entry into force provision (in Finnish).