Ice-Hockey Players’ Pension Fund

Frontpage Ice-Hockey Players’ Pension Fund

Investment operations and management of Ice-Hockey Players’ Pension Fund

Ice-Hockey Players’ Pension Fund acts under Jääkiekkoilijoiden Koulutus- ja Ammatinedistämissäätiö and is an athlete fund recognized by The Ministry of Finance as defined in The Income Tax Law (TVL § 116 a). Obsido Oy (Ltd) is responsible for the investment operations of this Fund.

Summary

How to start saving into the Pension Fund

  • Start by filling up the Pension fund’s subscription (”Merkintä”) -form (it defines when, how much and to which portfolio the investment will be done). Merkintä – form can be found from Obsido’s website https://www.obsido.fi/urheilijatulojen-rahastointi/lomakkeet/.
  • After finishing the form it is also automatically submitted to the wages clerk of your team who will forward it to Obsido.
  • The team withholds the amount you’ve indicated in the form and transfers the money to the pension fund to be invested.

It is allowed to invest up to 50 % (or maximum of EUR 200.000) of the income earned from sports into the pension fund within a Tax Year. (TVL § 116 c)

  • The tax authorities do not need to be notified.
  • If you wish (recommended), the effect of lower gross salary on your tax percent can be taken into account.
  • Example: gross salary EUR 50.000 -> tax percent 29 %
  • Transfer to pension fund EUR 10.000 -> gross salary EUR 40.000 -> tax percent 25 %

The invested funds can only be withdrawn after retirement as a professional ice hockey player or professional athlete

By law, the player is considered to be retired:

  1. when the player so announces
  2. no later than when the sports income for two consecutive tax years is less than EUR 9600
  • Funds can be withdrawn immediately after retirement.
  • Example: Player retires 30 April 2024.
  • Withdrawal can be started 1 May 2024.
  • Withdrawal must be started by 30 November 2027 (2 tax years after retirement).
  • Players are obligated to inform the Ice-Hockey Players’ Pension Fund when the sports career has ended in accordance with the aforementioned criteria.

Funds must be withdrawn within 2–15 tax years after retirement. The length of the withdrawal plan must be decided before the first withdrawal.

If the first withdrawal has been made after 1 January 2021, the withdrawal plan cannot be extended afterwards during the withdrawal period. For special reasons, the withdrawal plan can be sped up or the fixed withdrawal amounts can be changed.

  • Withdrawn funds will be taxed as earned income.
  • Withdrawals are paid out in equal payments and the proceeds will be paid the year after last withdrawal payment.
  • Example: value of the investments when starting the withdrawals is EUR 150.000, withdrawals in 15 years.
  • Yearly withdrawal payment is EUR 10.000 (Naturally, however, taken into account the fund performance which means there might not be payments for the whole 15 year time period depending on the performance and returns of the fund).
  • The possible returns from the withdrawal time will be paid on the 16th year.

Contact us for further information:
Janne Hauhtonen, tel +358 40 588 3045, janne.hauhtonen(at)obsido.fi
Sini-Maria Taipale, tel +358 45 631 1345, sini-maria.taipale(at)obsido.fi

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