Our members

Seafarers' Pension Fund (Merimieseläkekassa)

Seafarer’s Pension Fund (MEK) is an authorised pension provider that handles statutory earnings-related pension provision for seafarers. Our functions are prescribed in the Seafarer’s Pensions Act (MEL). Seafarers’ Pension Fund is founded 1956. It is the oldest pension provider at the private sector.

Our values are: Reliability, Sustainability, Co-operation

Our strategic objective is to act in a responsible, cost-effective and productive manner.

The unequivocal aim of the investment activities carried out by the Seafarers’ Pension Fund is to safeguard the payment of earnings-related pensions to seafarers as stipulated by law. The Seafarers’ Pension Fund aims at getting a good and stable return on its investments. The Seafarers’ Pension Fund is engaged in responsible investment activities and complies, in this respect, with appropriate ownership steering.

The purpose of the investment activities of the Seafarers’ Pension Fund is to secure the payment of pensions for persons insured by the Fund now and in the future. The Fund’s investment activities shall be independent, and accordingly, the Fund must have sufficient personnel resources with regard to the character and scope of activities.

The Board is responsible for investing the Fund’s assets, for ensuring appropriate investment mandates and for managing the risks related to investments.

The investment assets of the Seafarers’ Pension Fund are comprised of equity investments, real investments and fixed-income investments. The total value of the investment assets is approximately 1.41 billion euro.The most important decisions with regard to ownership steering as conducted by the Seafarers’ Pension Fund involve the responsible investment of its assets. In order to reduce the risk, the investment activities of the Seafarers’ Pension Fund have been diversified into different objects of investment, and this requires commitment to the principles of responsible investing from the asset managers.