Oriola-KD Corporation Stock Exchange Release 25 September 2015 at 11 a.m.
Oriola-KD to transfer its statutory occupational pensions to Ilmarinen and supplementary pension benefits to OP Life Assurance
Oriola-KD has decided to transfer the management of its Finnish companies' statutory occupational pensions and associated pension portfolio from Oriola Pension Fund to Ilmarinen Mutual Pension Insurance Company and supplementary pension benefits and the associated pension portfolio to OP Life Assurance Company Ltd. The transfer will take place according to the plan on 31 December 2015. Financial impact of the transfer will be reported as part of 2015 Financial Statements. The transfer will not affect the personnel's or pensioners' pension benefits or pension coverage. The transfer is subject to the approval of the Finnish Financial Supervisory Authority.
The statutory pension security under Oriola Pension Fund (B-Section) covers some 430 employees. Supplementary pension benefits (A-Section) covers employees who has joined the company prior to 25 June 1990, a total of approximately 15 current and approximately 56 former Oriola-KD employees are covered by the supplementary pension benefits.
The total pension liability of Oriola Pension Fund on 30 June 2015 was approximately EUR 62 million of which the statutory pension liability was approximately EUR 59 million and supplementary pension liability approximately EUR 3 million.
Oriola-KD Corporation
Eero Hautaniemi
President and CEO
For further information, please contact:
Eero Hautaniemi
President and CEO
tel. +358 (0)10 429 2109
e-mail: eero.hautaniemi@oriola-kd.com
Sari Aitokallio
CFO
tel. +358 (0)10 429 2112
e-mail: sari.aitokallio@oriola-kd.com
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NASDAQ OMX Helsinki Ltd.
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Oriola-KD Corporation
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Orionintie 5
FI-02200 Espoo
www.oriola-kd.com
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