What Apteekkien Eläkekassa does

Apteekkien Eläkekassa is a Finnish mutual pension fund founded in 1864, making it Finland's oldest pension institution. It is the statutory sector-specific pension insurer for the Finnish pharmacy industry, providing mandatory TyEL employee pension insurance to pharmacy employers and YEL entrepreneur pension insurance to self-employed pharmacists (apteekkarit). The fund insures over 8,000 active members and currently pays pensions to over 5,000 retirees. Its central operating principle is to deliver statutory pension coverage at lower cost than commercial pension companies, supported by stronger-than-industry solvency that enables regular refunds and credits to policyholders — totaling approximately EUR 2.7M in 2024 (EUR 3.4M in 2023), averaging EUR 4,165 per employer and EUR 358 per insured in 2024.

The technology stack supporting member services is conventional: a web portal (Verkkopalvelu) accessed via Suomi.fi e-identification, electronic application forms covering all pension types (old-age, partial early, disability, family, rehabilitation) and TyEL/YEL insurance matters, plus the Safemail encrypted email service. The fund has no disclosed AI, API, or programmatic integrations. Operations are run by a small team of 1-10 employees at the Helsinki headquarters (Kalevankatu 13), supported by Oy Porasto Ab for IT and pension service infrastructure.

The business model is structured around three revenue streams: recurring TyEL premiums (24.5% of payroll in 2025, with ~16.90% average employer share), YEL premiums (24.1% for under-53/over-62, 25.6% for ages 53-62; 22% discount for first 48 months for new entrepreneurs), and investment income from a portfolio that includes listed securities, direct lending, and a directly-owned residential real estate portfolio (Helsinki Kallio, Vantaa Jokiniemi, plus new construction in Kirkkonummi). Distribution is entirely direct — phone, email, customer service portal, and direct mail — operating only within Finland. The fund is cooperatively governed by its policyholders, with an annually elected board balanced between employer and employee representatives, and is not externally owned or traded.

Name

Apteekkien Eläkekassa

Legal name

Apteekkien Eläkekassa

Website

https://aekassa.fi

Company type

Private

Founded year

1864

Operating status

Operating

Headcount range

1–10 employees

Short description

Apteekkien Eläkekassa is a Finnish mutual pension fund founded in 1864 providing statutory TyEL and YEL pension insurance exclusively to the pharmacy sector, serving over 8,000 insured members and 5,000 pensioners through direct and digital channels.

Ownership category

akta.pro rank

Product category

Statutory Occupational Pension Insurance

NAICS

Pension Funds (525110), Pension Funds (52511)

SIC

Life Insurance (6311)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

Keywords

• Statutory pension insurance
• Employee pension insurance
• Entrepreneur pension insurance
• Vocational rehabilitation services
• Pharmacy pension fund

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Others

Revenue model

1. TyEL Insurance Premiums: Mandatory employee pension insurance (TyEL) premiums collected from pharmacy employers. The fund charges a premium rate (approximately 24.5% of payroll) and provides refunds/credits to policyholders when final settlement is lower. Employer average contribution share is approximately 16.90%.
2. YEL Insurance Premiums: Mandatory entrepreneur pension insurance (YEL) premiums collected from self-employed pharmacists. Premium rates vary by age (24.1% for under-53/over-62; 25.6% for ages 53-62 of confirmed work income).
3. Investment Income: The pension fund generates returns from its investment portfolio, which supports solvency and allows the fund to provide premium refunds to policyholders. Investment returns are referenced in annual reports and customer letters.
4. Rental Income from Residential Properties: The fund owns and rents residential apartments in Helsinki (Kallio, Viides linja 6) and Vantaa (Jokiniemi, Maanviljelijänkuja 6). Rental operations are part of the fund's investment activities.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Apteekkien Eläkekassa is a statutory pension insurance provider dedicated to the Finnish pharmacy sector. Its core offerings are TyEL employee pension insurance for pharmacy employers and YEL entrepreneur pension insurance for self-employed pharmacists, delivered alongside pension payment services, vocational rehabilitation, work ability coordination, and Kiila rehabilitation courses. The fund operates an online service portal (Verkkopalvelu) for electronic applications and a Safemail secure email channel, and invests premiums in a diversified portfolio including residential rental properties to support solvency and enable premium refunds.

Product overview

Apteekkien Eläkekassa operates as the pharmacy sector's own statutory earnings-related pension insurer, founded in 1864. The core product portfolio centers on two statutory insurance offerings: TyEL (employees' pension insurance) for pharmacy employers and YEL (self-employed pension insurance) for pharmacy entrepreneurs. These are complemented by comprehensive pension and rehabilitation services covering old-age pension, disability pension, vocational rehabilitation, and family pension. The organization provides digital services through its online portal (Verkkopalvelu) with electronic applications for all pension types and a secure email service (SafeMail). Additional services include work ability coordination, free workplace wellbeing training (Työhyvinvointikortti), Kiila rehabilitation courses, and rental apartments as part of investment activities. The organization differentiates itself by offering statutory pension coverage at competitive rates compared to commercial pension insurance companies, returning surpluses to policyholders through premium credits.

Differentiator

Problem solved

Functional benefit

Products and services

• TyEL-vakuutus (TyEL Employee Pension Insurance) Mandatory statutory employees' pension insurance (TyEL) provided to pharmacy sector employers at competitive premium rates compared to pension insurance companies, with annual refunds/credits.
• YEL-vakuutus (YEL Entrepreneur Pension Insurance) Mandatory statutory self-employed pension insurance (YEL) for pharmacy entrepreneurs, forming the foundation of the entrepreneur's social security.
• Eläkkeet ja kuntoutus (Pensions and Rehabilitation Services) Pension payment and rehabilitation services covering old-age pension, partial early old-age pension, disability pension, vocational rehabilitation, and family pension, including applications, calculations, and ongoing pensioner support.
• Verkkopalvelu (Online Service Portal) Self-service electronic portal for managing pension, rehabilitation, and insurance matters, including electronic applications for all pension types, messaging, and secure document handling via Suomi.fi identification.
• Suojattu sähköposti (SafeMail Secure Email) Encrypted email service enabling confidential communication with the pension fund, with attachment support, real-time recipient validation, and address book functionality for registered users.
• Kiila-kuntoutus (Kiila Vocational Rehabilitation) Vocational rehabilitation course program implemented in cooperation with Apteekkien Eläkekassa, Peurunka, and Kela, free for participants with rehabilitation allowance provided by Kela, aimed at improving work ability.
• Työhyvinvointikortti-koulutus (Work Wellbeing Card Training) Free workplace wellbeing training for pharmacy sector employers and employees covering occupational wellbeing fundamentals, work ability risk reduction, and support strategies.
• Työkykykoordinaattori (Work Ability Coordinator Service) Coordination service helping employees with work ability issues and workplace challenges, acting as liaison between employer, employee, and rehabilitation services.
• Vuokra-asunnot (Rental Apartments) Rental apartments owned in Helsinki Kallio and Vantaa Jokiniemi, managed as part of the pension fund's investment activities.

Quantifiable outcome

• Total customer credits of approximately 2.7 million euros in 2024, averaging 4,165 euros per employer and 358 euros per insured
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Oy Porasto AbcoreTechnology or IntegrationOy Porasto Ab is described as the ATK- ja eläkepalvelulaitos (IT and pension service institution) used by Apteekkien Eläkekassa. Porasto provides IT systems and pension service technology infrastructure for the fund's operations.
• PeurunkacoreStrategic or Co-development PartnerPeurunka co-implements Kiila rehabilitation courses together with Apteekkien Eläkekassa and Kela. Kiila rehabilitation aims to improve work ability and support staying in working life for pharmacy sector employees.
• Kansaneläkelaitos (Kela)coreStrategic or Co-development PartnerKela co-implements Kiila rehabilitation courses with Apteekkien Eläkekassa and Peurunka, and pays rehabilitation allowances to course participants. Kela also provides supplementary pension components (peruseläke) alongside the fund's earnings-related pensions.
• Suomen Apteekkariliitto (Finnish Pharmacy Association)minorOthersReferenced in links section as a useful external resource for pharmacy sector information. The fund operates as the dedicated pension provider for the pharmacy sector.
• Työeläkelaitosten liitto (TELA)minorOthersThe Finnish Pension Institutions federation (TELA) is referenced as a useful external link. Tela represents Finnish pension institutions and provides industry-level coordination.
• Eläketurvakeskus (Pensions Protection Centre)minorOthersEläketurvakeskus (ETK) is referenced as a source of information on insurance and pension system matters. The fund receives earnings data from ETK's joint income register.

Scale indicators8 records

Recent moves6 records

Expansion highlights4 records

Market position

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Apteekkien Eläkekassa