We create lifelong security

The core goal of our operations is to ensure that our customers are paid their earnings-based pensions on time both now and in the future. To achieve this goal, we need a wide range of processes, and we ensure that all our insurance processes are carried out responsibly.

The goals of responsible insurance in Elo's operations are:
• We reduce the environmental impact of our operations.
• Our customers receive clear and easy-to-understand service.
• Pension decisions are made quickly.
• We communicate responsibly.
• Our operations are worthy of trust.

Reliable provision of pension security is the foundation of our operations and creates security for our Finnish customers. Retirement is a significant change in a person’s life, and it is important that the retirement process is as smooth as possible. We support our customers in planning their retirement and identifying different pension options. We have improved our process for applying for a pension to ensure that pension recipients do not experience interruptions in their income. When it becomes necessary to apply for a pension, we issue the pension decision quickly; for example, an old-age pension decision can be obtained within 24 hours of applying, on average. We ensure that the decisions are correct and legal and that customers understand how they are made. We pay pensions on time and provide comprehensive services also to pension recipients.

It is important for us to continuously develop our operations. We invest in customer service and improve our operations based on customer feedback. We regularly update our guiding principles and make sure that Elo employees follow them.

We build a more humane working life for both individuals and the community 

We are building a working life that offers everyone good conditions for work and the opportunity to receive support for their ability to work, if necessary. We work for a more humane working life by providing our customers with work ability management services, taking responsibility at the societal level and taking care of the well-being of our own employees. We want to build a humane working life with all our key stakeholders in mind:

• customers
• our strategic insurance partners
• labour market organisations
• business and industry associations
• authorities and decision-makers
• cooperation and advocacy organisations in the field of employment pensions
• personnel
• investees
• members of our governing bodies and advisory boards
• schools and educational institutions
• the media

Working with these stakeholders, we can create a working life that supports both individuals and communities.

Work ability management services for our customers

Our strategic goal is to be a pioneer in work ability management services by 2025. Elo’s work ability services support the customers’ disability risk management by helping them identify disability risks, plan effective measures and evaluate their effectiveness. Our services for work ability management are proactive, goal-oriented and long-term, and their goal is to reduce the risk of disability in customer companies. Our experts and tools help customers to develop and implement measures to support work ability in their everyday operations, so that when an employee’s work ability weakens, they can receive timely support. We support our customers by organising training and network meetings, for example.

Rehabilitation services are part of our work ability management services. A career does not have to end prematurely, even if the ability to work deteriorates. In a sustainable working life, everyone, including those with a partial work ability or an ability to perform only some tasks, meets the conditions for work. Vocational rehabilitation offers a route back to working life, despite limitations in work ability and health. In the case of applicants for a disability pension, we ensure they utilise the opportunities for vocational rehabilitation. Through rehabilitation, we seek sustainable solutions for extending our customers’ careers and prevent permanent disability.

Social responsibility

It is important for us to participate in the social debate on building a more humane working life. Our experts are aware of the transformation of working life, and we want to make their voices heard. In addition, we produce information to support societal decision-making.

We support entrepreneurship and sustainable growth, and work for the future of young people and their working life skills. We are involved in organising and supporting various entrepreneurship awards that encourage entrepreneurship and increase awareness of different entrepreneurs. To organise events, we cooperate with the Federation of Finnish Enterprises and the Women Entrepreneurs of Finland, for example. We invest in the future of young people together with Junior Achievement Finland, for example, by organising events such as Job Shadow. We also cooperate with educational institutions.

Responsibility for our own employees

It is important to us that the same values that we want to communicate externally are also true for our own personnel. We look after our employees’ well-being at work and treat all employees equally. Elo’s HR management is based on our values of transparency, active approach and commitment. The HR policy brings together the key principles and operating models of our HR management, adding transparency to HR activities and strengthening our common management culture. This contributes to an excellent employee experience.

We foster an active and open communication culture. We want to encourage employees to share their opinions so that we can improve as an employer. Personnel surveys are part of our annual clock, and aim to improve the functionality, occupational well-being and cooperation of the work community. Based on employee surveys, we have changed our personnel benefits and remote working practices, for example. We conduct two types of surveys each year: shorter Pulse surveys on a quarterly basis and a more extensive Yhteiselo survey once a year. As key indicators, we monitor the willingness of our employees to recommend Elo as an employer (employee net promoter score eNPS), as well as the personnel's experience of their own ability to work.

We offer our employees a range of employee benefits that support well-being at work. As an earnings-related pension company, it is clear to us that life situations change and people’s ability to work can vary over the course of their lives. As an employer, we strive to be flexible and support employees as required in any situation.

We want to be a workplace where everyone can be themselves and feel valued, which is why we invest in actions that promote equality in many different ways. For example, we have trained the entire organisation on Diversity, Equity & Inclusion (DEI), deployed DEI metrics that we monitor, created an equal remuneration policy, and started an anonymous recruitment trial.

We invest in the future

By investing sustainably, we take responsibility for future pension recipients

We invest earnings-related pension funds profitably and securely in accordance with our strategy and operating principles. We ensure sufficient solvency in all market situations and manage pension assets cost-effectively and responsibly. By acting responsibly, we manage the risks associated with investments, achieve a good return on our investments, and identify societal changes and systemic risks.

We assess the sustainability of our investments from the perspective of environmental responsibility (E), social responsibility (S) and good governance (G). The responsibility of Elo’s investment activities encompasses the accountability of its own practices, adherence to international standards, evaluation of investee sustainability, ownership steering, and other forms of advocacy.

Our Principles for Responsible Investment guide the sustainability of our investment activities. The principles apply to all our investments, and when investing, we also take into account the specifics of the various asset classes and forms of investment.

We expect our investees to adhere to international standards and agreements, such as the UN Global Compact principles on human rights, labour rights, the environment and corruption. 

Read more about responsible investing