Kilpailun asema työeläkejärjestelmän hajautetussa toimeenpanossa - Kauppaoikeudellinen tutkimus erityisesti kilpailun merkityksestä työeläkevakuutusyhtiöille

Translated title of the contribution: The role of competition in a decentralised implementation of the employee pension scheme.

Erkki Rajaniemi

Research output: ThesisDoctoral ThesisCollection of Articles


In Finland, the employee pension scheme for the private sector has been implemented as a so-called "decentralised system", through various pension institutions established under civil law. Employee pension institutions comprise employee pension insurance companies, pension foundations, pension funds and special pension institutions, i.e. the Seafarer's Pension Fund and the Farmers' Social Insurance Institution. Ensuring the operability of the implementation system creates different interfaces and obligations which may even appear contradictory. For example, employee pension insurance companies must cooperate and compete with each other at the same time. This study constitutes the first doctoral dissertation on the position and relationship with commercial law, of employee pension insurance companies based on social security. The viewpoint of the study is mainly competition law, and the object of study is a jurisprudential and legal policy analysis of competition among employee pension insurance companies. The concluding section of the study places the legislative development of employee pension insurance companies in the framework of insurance. In addition, it looks into the interlinked development of the employee pension scheme and EU law, the increasing importance of competition law for the employee pension scheme, and the mutual relationship of decentralisation and competition. The articles constituting the dissertation address legislative developments related to the thematic field, the significance of legislation as a neutrality factor for competition, dominant market position, and horizontal cooperation within the employee pension scheme in the light of a practical example, as well as two individual competition factors: company-specific employee pension contribution and occupational wellbeing services. One of the key conclusions of the study is that competition indeed facilitates more efficient implementation. Nevertheless, competition must not be the goal per se, but it must be compatible with the employee pension scheme. Reasons related to social security constitute grounds for restricting competition. As indirect conclusions of the study, there was also found to be an incoherence of argumentation within the scope of the employee pension scheme and a lack of set targets. Apprehension or keenness felt for competition, and the resulting problematics in terms of the competition within the employee pension scheme also seem to stem in some respects from the fact that competition changes the structure of decentralisation and hence also, for instance, the development of the companies' market positions
Translated title of the contributionThe role of competition in a decentralised implementation of the employee pension scheme.
Original languageFinnish
QualificationDoctor's degree
Awarding Institution
  • Aalto University
  • Rudanko, Matti, Supervising Professor
Print ISBNs978-952-60-6174-0
Publication statusPublished - 2015
MoE publication typeG5 Doctoral dissertation (article)


  • Employee pension system
  • pension insurance company
  • competition


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