The contents of earnings-related pensions are determined in the pension acts. The private-sector earnings-related pension acts are the

• Employees Pensions Act (TyEL),
• Self-Employed Persons’ Pensions Act (YEL),
• Farmers’ Pensions Act (MYEL), and
• Seafarer’s Pensions Act (MEL).

All private sector pension providers offer the same TyEL and YEL pensions.

Public sector pension provision is governed by the Public Sector Pensions Act (JuEL). It was created when the Local Government Employees Pensions Act (KuEL), the State Employees Pensions Act (VaEL), the Evangelical-Lutheran Church Pensions Act (KiEL) and the pension regulations for the employees of the Social Insurance Institution (Kela) merged as of the beginning of 2017.

There are separate pension acts for the highest elected state officials (Members of Parliament and the President). The employees of the Orthodox Church, the Bank of Finland and the Regional Government of Åland have their own pension regulations.

Application guidelines compiled in cooperation

The application guidelines issued by the Finnish Centre for Pensions are recommendations on how the earnings-related pension acts should be applied. They ensure that the pension providers apply the earnings-related pension laws coherently.

The Finnish Centre for Pensions issues the application guidelines in cooperation with the pension providers and other partners of cooperation. The guidelines state, for instance, how the earnings-related pension acts and the principles used in the division of costs, as well as other regulations which affect the implementation of earnings-related pensions, are to be applied.