Finnair, the Finnish national airline, has transferred the management of its €739m ($878.5m) pension fund to Ilmarinen, one of the largest insurers and pension providers in the country, to reduce the volatility the pension fund performance has on group results.

New international accounting rules across Europe are forcing companies to pay attention to their pension assets and liabilities. In the UK a large number of providers have closed their final salary schemes in favour of defined contribution funds to reduce costs and transfer the investment risk to employees.