Page 9 - Seafarers_Pension_Fund_Annual_Report_2022

Average retirement age with pension in 2000–2022 61.7 Annual Report of the Board
60.7
Age Seafarers’ Pension Fund 2022 Annual Report
70 52.8
65 99
60
55
50
45
40

1997 2000 1998 2001 1999 2002 2000 2003 2001 2004 2002 2005 2003 2006 2004 2007 2005 20082006 20092007 20102008 20112009 2012 2013 2013 20152014 20162015 20172016 20182017 20192018 20202019 2021 2020 2022
2014

Old-age pensions Average Disability pensions

In 2022, the Insurance Court, which is the second appeal instance,
processed four appeals (eight in 2021) concerning decisions issued by the
Seafarers’ Pension Fund or the Pension Appeal Court. The Insurance Court
rejected all the appeals, three of which concerned disability pensions and
one vocational rehabilitation.

In 2022, the total number of pension recipients was 7910 (8001) per-
sons. Of the various pensions and benefits paid by the Seafarers’ Pension
Fund, 87% were old-age pensions, 5% were rehabilitation benefits and
disability pensions, and 8% were survivors’ pensions.

The Fund’s pension expenditure under MEL totalled EUR 150.6 million,
which is the same level as the previous year.

Overall, EUR 166.8 million were paid as pensions and benefits, including
those under schemes other than MEL. The net amount of paid benefits and
compensations totalled EUR 168.9 million, which includes claims handling
expenses and expenses for the maintenance of work ability activities as well.

The average age of retirement with pension under MEL increased slightly
to 60 years. The possibility to retire on old-age pension is now two months
later. A minor decrease in the retirement age was realised in other pension
categories.

Granted pensions 1997–2022

MEUR

200

150

100

50

0

2010 2021 2022
2011
2012

Old-age pensions Disability pensions Survivors’ pensions
Part-time pensions
Unemployment pensions