Page 9 - Seafarers---_Pension_Fund_Annual_Report_2021

The quality of the Fund’s decision-making is indicated by the Annual Report of the Board
sustainability of the decisions in various appeal instances. In 2021, the
Pension Appeal Court, which is the first appeal instance in pension Seafarers’ Pension Fund 2021 Annual Report
matters, processed a total of 11 (20 in 2020) appeals concerning
the pension decisions issued by the Seafarers’ Pension Fund. Eight 99
of the appeals concerned the right to disability pension, the right
to full disability pension, the continuation of disability pension or
the temporary right to disability pension, and they were all rejected.
Additionally, the Pension Appeal Court rejected an appeal in three cases
that concerned the determination of a spouse’s pension, determination
of old-age pension and the right to career pension.

The Insurance Court, which is the second appeal instance, processed
eight (five in 2020) appeals concerning the decisions issued by the
Seafarers’ Pension Fund or the Pension Appeal Court. The Insurance
Court amended two decisions made by the Pension Appeal Court
and granted partial disability pension and full disability pension in
accordance with the temporary decisions of the Seafarers’ Pension
Fund. In six cases, the Insurance Court rejected appeals that concerned
the right to disability pension, full disability pension and vocational
rehabilitation.

In 2021, the total number of pension recipients was 8,001 (8,122)
persons. Of the various pensions and benefits paid by the Seafarers’
Pension Fund, 86% were old-age pensions, 7% were rehabilitation
benefits and disability pensions, and 7% were survivors’ pensions.

The Fund’s pension expenditure under MEL totalled EUR 148.1
million, which is the same level as the previous year.

Overall, EUR 163.7 million were paid as pensions and benefits,
including those under schemes other than MEL. The net amount of
paid benefits and compensations totalled EUR 165.1 million, which
includes claims handling expenses and expenses for the maintenance of
work ability activities as well.

The Fund rejected its first incoming career pension application. The
decision was submitted for appeal to the Pension Appeal Court, which
rejected the appeal.

The average age of retirement with pension under MEL increased
slightly, and was 60 years and 7 months. The age of retirement with
old-age pension has been pushed slightly later. This was also true for all
other pension categories. The most significant change was seen in cases
of retirement with disability pension.

Average retirement age with pension in 2000–2021

Age

70

65 61.5 Old-age pensions
60 60.7 Average
55 59.6 Disability pensions

50

45

40

2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021