The assets under management (AUM) of Finland's Seafarers' Pension Fund surpassed €300m in 2024, as the number of insured savers increased to 7,568 from 7,226, and the total payroll rose by 8.8 per cent.

Newly reflagged vessels under the Finnish flag also contributed to increased travel activity, raising the share of passenger shipping to 53.9 per cent of the total payroll.

According to preliminary financial statements for 2024, investment returns reached €7.3 per cent, and the market value of investments grew to €1,434m.

The proportion of liquid investments also increased to 47.2 per cent.

The fund said its highest returns were from forest investments and listed equity and fixed-income investments.

In contrast, real estate investments remained slightly negative regarding returns, with the share of real estate in the portfolio halved compared to 2020.

The Seafarers' Pension Fund's solvency ratio remained strong at 188.1 per cent, while the average solvency ratio of earnings-related pension companies was estimated at 129.2 per cent.

However, the number of pension applications declined, as the low index adjustment for earnings-related pensions did not result in the usual spike in applications in December.

The number of pension recipients also decreased, to 7,570 from 7,332, while the number of rejections increased.

The fund continued to improve its sustainability practices, as the carbon risk of its listed investments decreased by one-third compared to the previous year.

They also launched energy-efficient renovations in two properties and announced plans to introduce new initiatives to promote seafarers' occupational well-being, set to be implemented in 2025.

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