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Nokia Benefits Website Changed

The Nokia US benefit plan administrator’s website address for Your Benefits Resources™(YBR) has been changed. The new YBR website address is:

While the website address has changed, retirees should continue using their current YBR User IDs and passwords to access their personalized benefits information on YBR.

As a reminder, retirees can use the YBR website for benefit-related activities such as:

  • Enrolling in Nokia’s health and welfare plans (e.g., medical and dental);
  • Making and/or changing Nokia Savings/401(k) Plan elections;
  • Updating dependent or beneficiary information, if applicable; and
  • Projecting pension benefits and/or electing to commence pension benefits, if applicable.

Anyone who bookmarked the old YBR website address should take a moment to update the bookmark to reflect the new address.

The old YBR website address will continue to be active through December 31, 2019. Until that time, anyone using the old website address will automatically be redirected to the new website address.

Retirees’ questions about this change should be directed to the Nokia Benefits Resource Center (NBRC) at 888-232-4111, Monday – Friday, 9:00 a.m. to 5:00 p.m. ET.


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The LRO receives frequent requests for dealing with the passing of a retiree or surviving spouse. Consequently, we have created a document that focuses on communicating with Nokia benefits and pensions, along with links to websites with checklists for other family issues. The document is available here.

The document is printable so that you can keep it in your files for future reference.


Recently you should have received from Nokia the Annual Funding Notice (AFN) reporting the status of your pension that they are required to send you each year on April 30. In this status report we will provide some comments on the data in the AFN and also on the information Nokia reported to the SEC earlier this year. The current data in the two documents will probably be the last new current pension status data for this year.

The AFN data provides data at both the beginning of the year (2017) and the end of that year. The beginning of year data covers a three- year period and the following is for the year 2017:

Funding Target Attainment Percentage

Assets $17.628 billion     Liabilities $12.863 billion     Funding Level 137%

Two significant causes are described for the reported funding level. (Also covered in the second paragraph under plan liabilities on page 2 of the AFN). Under Federal Law which was effective in 2011, companies with defined benefit pension plans were allowed to calculate pension liabilities using a 25 year average of interest rates rather than a 2 year average. Currently the 25 year average is greater than the 2 year average, therefore the higher rate reduces the pension liabilities and increases the funding level. Nokia reports that using this average rate adds about 20.5 percentage points to the funding level. The second item is that Nokia has not yet adopted the new actuarial tables for this calculation which also overstates the funding level by about 10%.

The second funding status shown in the AFN is at 12/31/17 as follows:

Assets $18.422 billion     Liabilities $15.636 billion   Funding Level 117.8%

This calculation does not use the 25 year interest rate average but uses the PBGC interest rates. It also does not reflect the use of new actuarial tables which have about a 10% effect on funding level. This funding level is about two percentage points lower than 2016.

Earlier this year, Nokia also filed a Form 20F with the SEC that reported the funding level of our pension plans (in euros) for year end 2016 and 2017.

  2016 2017
Pension Assets  16.9 billion euros 15.3 billion euros 
Pension Liabilities  15.9 billion euros  13.8 billion euros 
Funding level  105.7 %   111.0 % 

Please note the reduction in both assets and liabilities for 2017. Since pension recording for our pension plans is done in dollars, it must be converted into euros for financial reporting by Nokia. The exchange rate from dollars to euros increased from about 1.05 to about 1.20 during this period thereby significantly reducing both reported assets and liabilities. You should also note that Nokia has adopted the new actuarial tables for financial reporting.

When Nokia reports total assets and liabilities for all US pension plans and all US post retirement benefits total pension assets (management and represented plans) exceed total liabilities by 2.4 billion euros. Post retirement benefit plans covering both healthcare and group life insurance benefits liabilities exceed assets by 2.0 billion euros. As reported on the 20F (when all plans are added together) some of the positive increase resulted from the improvement in the euro/dollar exchange rate.

The AFN also reports total participants in the pension plan, both active, retired, and entitled to future benefits. Total participants declined from 117,260 on 1/1/16 to 115,150 on 1/1/17 although active employees increased by 2006 during the year 2016. That is of interest to retirees as Nokia increased pension expense by 63 million euros in 2016 and 75 million euros in 2017 in connection with reinstatement of a cash balance pension plan for active employees. Up to now no assets have been contributed to the plan for this expense.


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Nokia Benefits Resource Center (NBRC)1-888-232-4111
International Long Distance 1-212-444-0994    Other links here.


Rather than duplicate links to articles that are posted IN THE NEWS on the NRLN website home page, we will endeavor to post here articles of particular interest to Lucent Retirees. Please visit for a wide range of retiree news.

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