Mandatum to sell its pension fund services business to Porasto
Press release, 19 August 2024, at 2:00 p.m. EEST
Mandatum Life Services Ltd (Mandatum) has entered into an agreement to sell its pension fund services business to Porasto Oy. The transaction is expected to close on 31 December 2024.
The transaction covers pension fund governance services and employer services regarding benefit calculations and reporting in accordance with the IFRS/USGAAP requirements, and the services provided to companies regarding the calculation and payment of retirement promises. These services became part of Mandatum’s portfolio in the spring of 2011 when the company acquired the pension and personnel fund services of Silta Oy.
The Mandatum employees providing these services will transfer to Porasto. There are no service change implications for customers.
The transaction has no material impact on Mandatum’s financial result.
Additional information:
Mandatum
Jukka Kurki, CEO, Mandatum Life Insurance Limited
Tel. +358 50 424 6630
jukka.kurki(a)mandatum.fi
Niina Riihelä, SVP, Communications, brand and sustainability
Tel. +358 40 728 1548
niina.riihela(a)mandatum.fi
Porasto
Mika Kivinen, CEO
Tel. +358 9 7527 7237
Mandatum in brief
Mandatum is a major financial services provider that combines expertise in wealth management and life insurance. Mandatum offers clients a wide array of services covering asset and wealth management, savings and investment, compensation and rewards as well as pension plans and personal risk insurance. Mandatum offers services to corporate, retail, institutional and wealth management clients. At the centre of Mandatum's success are highly skilled personnel, a strong brand as well as a proven investment track record.
mandatum.fi/en/group
Porasto
Porasto is a service company owned by its customers, offering a wide range of services. The core business of Porasto is to provide extensive services related to statutory earnings-related pensions and supplementary pensions for company and industry-wide pension funds. More about Porasto's operations and service offerings: https://www.porasto.fi/