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2016-08-30

Unemployment Insurance Fund: Budget and proposal for Unemployment Insurance Contribution rates for 2017

Unemployment Insurance Fund Stock Exchange Release 30 August 2016 at
13:00 p.m.

TVR budget and proposal for Unemployment Insurance Contribution rates for year
2017

The Supervisory Board of the Unemployment Insurance Fund (TVR) has today
approved the budget for year 2017 and decided to propose to the Ministry of
Social Affairs and Health, that the following changes would be applied to the
Unemployment Insurance Contributions (UIC) for the year 2017. TVR proposes,
that the average UIC for employers will be decreased by 0,46 percentage
points and the UIC for employees to be raised by 0,45 percentage points. The
level of UIC percentages for the next calendar year are set by the Finnish
Parliament by amending the Finnish Act on Financing of Unemployment Benefits.

The unemployment rate in Finland is according to the budget estimated to be
9,2 percent in 2016 and 9,1 percent in 2017. The benefit payments paid by TVR
will decrease by two percent in 2017 from 2016. The change in net position is
estimated to be slightly positive in 2017 and the net debt position to
decrease accordingly.

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| TVR budget for year 2017 (source: TVR, Statistics Finland) |
| 30.8.2016 |
| Amounts % 2 015 2016 e 2017 B |
| |
| Unemployment rate 9,4 9,2 9,1 |
| Wage sum growth p.a. 0,8 1,0 1,1 |
| UIC, employers (average) 2,34 2,86 2,40 |
| UIC, employees 0,65 1,15 1,60 |
| |
| Key Figures, 2 015 2016 e 2017 B |
|EURm |
| |
| Unemployment Insurance Contributions 2 188 2 938 3 006 |
| Other income * 1 142 1 125 1 024 |
| Benefits paid - 4 002 - 4 013 - 3 952 |
| Change in Net position - 677 46 73 |
| Net position (Business cycle buffer) - 686 - 640 - 567 |
| Maximum limit for buffer 1 521 1 569 2 252 |
| * contributions from MSAH |
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Additional information:

Janne Metsämäki, Managing Director. tel. +358 40 522 3614
Tapio Oksanen, Deputy Managing Director, CFO tel. +358 40 539 4651

Helsinki, 30 August 2016

Unemployment Insurance Fund (TVR)

Tapio Oksanen
Deputy Managing Director

Distribution:
NASDAQ OMX Helsinki
Media
www.tvr.fi

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Työttömyysvakuutusrahasto via Globenewswire

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