Page 13 - Seafarers_Pension_Fund_Annual_Report_2022

Annual Report of the Board

Seafarers’ Pension Fund 2022 Annual Report

boards of the Fund’s asset management companies or of any listed Development of investment assets
companies in which the Fund has a direct holding. The Seafarers’ Pen-
sion Fund owns property and housing companies as well as companies MEUR 1,359
directly serving its property operations and in which the Fund exercises 1,500
its direct authority. The Seafarers’ Pension Fund is a significant inves-
tor, in accordance with its investment plan, in investment funds and 1,200
private equity companies. The Fund is a member of the investment
committees of twelve capital funds. 900

Information systems, data security 600
and data privacy
300
The Seafarers’ Pension Fund took its pension processing system,
Erasmus, into use on 10 January 2022. Erasmus makes use of the Lapa 0
calculation service widely utilised within the pension insurance sector. 2018 2019 2020 2021 2022
The Erasmus system is used to process pension applications and to
manage and pay out pensions. At the same time, the Fund updated its Other investments
customer portals (Ankkuri and Loki) as well as the login procedure Capital funds
for the Ankkuri service and renewed the operating service agreements Equities
related to the Ankkuri service. Infrastructure and forest
Real estate
The systems used by the financial and investment functions of the Credit funds and loans
Seafarers’ Pension Fund are cloud servers with a service model of either Bonds
SaaS (Software as a Service) or BPaaS (Business Process as a Service). Money market instruments

The Fund’s data protection officer annually drafts a data balance Investment income
sheet that assesses the supervision of data security and data privacy Return on capital employed, %
during the reporting year and outlines the plans for the next year.
During 2022, the Seafarers’ Pension Fund has further developed its 2022 2021 2020 2019 2018
data security and privacy in collaboration with the parties involved in -1.7 16.2 6.2 10.7 0.7
the earnings-related pension system as well as with selected partners.
Average annual return, %
In all its activities, the Seafarers’ Pension Fund complies with the 1 y 5 y 10 y 20 y 1998–
legislation, regulations and rules related to data security, data privacy -1.7 11.0 7.9 6.3 6.6
and information processing.

The Fund has defined internal data security and privacy responsibili-
ties, data protection procedures and also specified data security and
privacy requirements concerning the activities and services of external
stakeholders. In addition, personnel have been provided with guidelines
and training. The aim of the data security and privacy policy of the Sea-
farers’ Pension Fund is to protect the information, especially personal
data, information systems and services that are essential for the Fund’s
operations, both in normal and exceptional circumstances, by means of
administrative, physical and technical measures.

Through data security and privacy control, it is possible to manage
the risks related to data privacy and data security. As part of our own
control, we pursue to ensure appropriate data security within the
environment in which information systems are used. The Fund has
conducted in-house control under the direction of those responsible for
data security and data privacy.

No data protection anomalies were detected in 2022.

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