Nordea’s PS agreement available in Finland from 1 April 2010

17.03.10 8:29 | Lehdistötiedotteet

The act on long-term savings, which entered into force on 1 January 2010, introduces a new alternative to voluntary pension insurance. Effective 1 April, Nordea’s customers will be able to enter into a pension savings agreement (PS agreement) that enables them to save through shares, bonds, investment funds and accounts. This savings form will also include tax incentives.


Nordea’s PS agreements are subject to a management fee of 0.3% of the savings. However, the minimum charge is 2 euros per month. Management fees are not payable for the first 12 months if the agreement is made this year. Management fees for Nordea’s Key Customers are waived for the first three years.


Any equity orders related to the PS agreement are subject to Nordea’s normal fees. However, Nordea does not charge a fee for bond orders, index-linked bond orders, fund subscriptions and fund redemptions.



- I believe this new alternative will inspire many of our customers to start pension saving. This is an excellent opportunity to influence the return on your pension savings, says Risto Kuoppamäki from Nordea’s Savings & Asset Management.


Pension insurance policies entered into on or after 18 September 2009 and savings accrued under a PS agreement can be transferred from one service provider to another without tax consequences. However, in connection with a transfer, the agreement’s terms and conditions will always be amended to comply with new legislation as well as the terms and conditions of the new service provider.


Savings accrued under both PS agreements and pension insurance policies can be withdrawn after reaching the statutory retirement pension age. Both alternatives are treated equally for taxation purposes.



For further information:

Risto Kuoppamäki, Savings & Asset Management, +358 9 165 48105

Kati Tommiska, Chief Press Officer, +358 9 165 42320