Page 11 - Seafarers_Pension_Fund_Annual_Report_2022

Annual Report of the Board

Seafarers’ Pension Fund 2022 Annual Report

their psychosocial loading, the Fund annually supports the work of the Technical provisions
Ship Curators of the Finnish Seamen’s Mission.
MEUR 992 1,056.6 1,075.8
Onboard management is one factor that is driving employees out of 2020 2021 2022
onboard work. The onboard management coaching programme, which 1,100 897 972
started on the basis of an initiative put forth by the Seafarers’ Pension 1,000 2018 2019
Fund, has continued, primarily as remote coaching, with two coaching
groups. In 2022, development activities continued for a collaboration 900
model with different institutions providing maritime education with 800
the intention to include management skills in their curricula. The 700
coaching is based on the deep leadership model and its purpose is to 600
improve onboard management. The steering group of the programme 500
has representatives from the Seafarers’ Pension Fund, shipowners, 400
maritime labour market organisations, the Finnish Seamen’s Mission 300
and Deep Lead Inc., the provider of coaching and producer of the over- 200
all programme itself. 100

The provision of seafarers’ occupational health care and promotion 0
of well-being at work activities continued with the private medical care
provider Mehiläinen Oy. Mehiläinen is also represented in the For- Solvency capital and its limits
Mare steering group.
MEUR 3.39
During 2022, development continued on the well-being at work 700 190.1 %
(TyHy) extranet service opened for shipping companies as employers
for the purpose of promoting well-being at work activities and work 200
ability management. The service content and tools were marketed to
the shipping companies at relevant events. 600 650.1
500 150
Each year, the Seafarers’ Pension Fund awards a seafarer or shipping
company with the Ove Ericsson Award to highlight their significant 400
actions to promote health and well-being. The award is funded by a 100
testamentary gift. In 2022, the award was given to ESL Shipping Ltd
in recognition of its goal-directed and successful work to benefit the 300 191.8
seafarers working on its vessels. 200 50

During 2022, the Seafarers’ Pension Fund used a total of EUR 100
81,849.64 for activities related to disability risk management.
00
2018 2019 2020 2021 2022

Technical provisions Solvency capital, MEUR
Solvency limit, MEUR
Solvency ratio, %
Solvency position

The technical provisions included in the balance sheet increased to
EUR 1,076 million (EUR 1,057 million in 2021). Of the technical pro­
visions, a total of EUR 355 million is included in the solvency capital.

The liability for future and commenced pensions amounted to EUR
721.2 million at the end of the year.

Components of technical provisions: 420,989,000
Provision for commenced pensions 43,424,000
Provision for outstanding claims
Provision for pooled claims 464,413,000

Total

Provision for future pensions 272,552,000
Equity linked buffer fund -15,753,000
Technical provisions 721,212,000

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