Savings and investments

Frequently asked questions

How do I withdraw assets under savings or unit-linked insurance policies?

To surrender your OP Unit-linked Insurance policy, send us an online message. Select as the message subject Endowment, life and pension insurance. When sending the online message, you will find more detailed instructions on what to include in the message.

If you want to leave the insurance in force, you cannot withdraw all assets. You can check the amount that must be left in the insurance by calling OP Life Assurance Company’s customer service, tel. 010 253 6100 (Mon–Fri 8–16). The processing time of the application is 1–2 weeks.

Alternatively, you can book an appointment for a meeting at a bank branch at op.fi. Bring with you to the meeting a valid personal ID document with photo.

Can I withdraw pension insurance savings prematurely?

The criteria for the surrender of voluntary pension insurance are stipulated by law and by the terms and conditions of pension insurance. You can withdraw savings either fully or partially before the insurance falls due for payment, only if certain specific criteria for surrender are met. 

Such surrender criteria include:

- the insured person’s marriage has ended in divorce or the spouse’s death
- the insured person has been unemployed for at least 12 months or has become permanently or partially disabled
- the insurance company has changed the policy's calculation bases, increasing the policy's expenses, or
- the insurance company has changed its insurance terms and conditions by cutting the insurance benefits.

The surrender has to be applied for in writing from the insurance company within a year from the date when the surrender became possible.

If any of the aforementioned surrender criteria is met and you wish to agree on the surrender of your OP Personal Pension Insurance, call OP Life Assurance Company’s customer service, tel. 010 253 6100 (Mon–Fri 8–16), for more detailed instructions.

When you terminate the insurance, the insurer will withhold tax and debit a surrender charge for the entire amount of the pension insurance policy. You can check the surrender charge and tax implications from OP Life Assurance Company’s customer service.

How do I change my payment plan for saving through insurance?

You can change your payment plan on OP eServices under Saving through insurance, then go to Payment plan.

However, note that reducing or terminating your payment plan may affect the fees charged for the insurance policy. For more detailed information on fees applicable to your insurance policy, please call OP Life Assurance Company's customer service, tel. 010 253 6100 (Mon–Fri 8–16).

Once you have changed your payment plan, check any e-invoices that are due in your e-invoice archive and remove those that have been made according to the old payment plan.

How do I start investing in mutual funds?

You can easily make an agreement for a systematic investment plan on OP eServices under Funds.

To start using the service, you need to conclude an OP Savings and Investments Agreement. You can do this on OP eServices under Savings and investments.

Learn more about our range of mutual funds and choose the fund that you want by clicking Buy. If you wish to discuss the options available to you, call OP Customer Service, tel. 0100 0500 (Mon–Fri 8–16, mobile charge/local network charge). You can also book an appointment.

A book-entry account for a child – I would like to open a book-entry account for my underage child. How to do it?

For opening a book-entry account, the minor must have a current account and an OP Savings and Investments Agreement.
 
Both guardians must approve the agreement. This means that either both guardians sign the agreements or one of the guardians issues a power of attorney authorising the other guardian to sign the agreement. If an online power of attorney is used, both guardians must be OP customers.
You can issue a power of attorney at op.fi
 
The minor needs a current account which serves as management account for the book-entry account. The easiest way to open a current account is to do it at op.fi.
 

To open a current account for a child, you’ll need:

  • the name and personal ID code of the minor.
  • your OP user ID.
  • the other guardian’s online banking user identifiers at OP or any other Finnish bank. The guardian must accept the agreements for opening the account in our electronic signature service.
  • about 15 minutes of your time.

Read more about children’s current account and opening it.

 
Opening a book-entry account
 
If both parents have signed the OP Savings and Investments Agreement for a minor, either of the guardians may open a book-entry account for the minor without a separate consent from the other guardian. The easiest way to open a book-entry account is by calling OP Customer Service, tel. 0100 0500 (Mon–Fri 8–16, mobile charge/local network charge).
 
If the minor has no OP Savings and Investments Agreement, you can open a book-entry account by visiting an OP branch. You can book an appointment here. If both guardians cannot attend the meeting at the same time, the other one can give his/her consent by filling in and sending an online power of attorney.

How do I redeem my mutual fund assets?

The easiest way to redeem mutual fund assets is to do it on OP eServices.

Under My mutual funds, choose the mutual fund units you wish to sell and click or tap Sell. The assets redeemed from the mutual fund will be transferred to your account within approximately three banking days.

If you are unable to redeem mutual fund assets on OP eServices, you can do it by calling OP Customer Service, tel. 0100 0500 (Mon–Fri 8–16, mobile charge/local network charge).

Starting to trade in equities – How can I start trading in equities at op.fi?

You can trade in Finnish and foreign equities on OP eServices. To start trading in equities, you need a book-entry account, OP Savings and Investments Agreement, OP’s online bank user identifiers and a bank account.
 
You can make a request for opening a book-entry account at op.fi or visit an OP branch. You can book an appointment for a meeting at an OP branch here.

How do I make changes in my systematic investment plan?

You can easily change your systematic investment plan on OP eServices under Funds.

Under Systematic investing, choose the fund concerned and click or tap Edit to make the changes.

On OP eServices, you can modify your investment amount, due date, debit account and debit frequency. You can also pause systematic investing for a fixed term or terminate the systematic investment plan agreement.

How do I transfer my book-entry account to OP cooperative bank?

You can transfer your current book-entry account from another account operator to OP cooperative bank by filling in the transfer application on OP eServices.

The transfer of a book-entry account takes approximately five banking days, during which you cannot trade in securities. Please note that information related to security purchases is not automatically transferred with the securities. Therefore, please store the purchase information (price and date of purchase) of your current book-entry account before you make the transfer request. The information can be added to your OP book-entry account after the transfer.