Eläkepäiväraha

Eläkepäiväraha, often translated as pension benefit or retirement allowance, is a term used in some countries to refer to a financial payment made to individuals who have reached retirement age and are no longer in the workforce. This benefit is typically provided by the state or through mandatory pension schemes. The purpose of eläkepäiväraha is to ensure a basic level of financial security for retirees, allowing them to cover their living expenses after their working life has ended.

The eligibility criteria for receiving eläkepäiväraha usually include a minimum age requirement and a certain number of years spent contributing to a pension system. The amount of the benefit is generally calculated based on the individual's earnings history and the duration of their contributions. In many systems, there are provisions for adjusting the benefit amount to account for inflation and changes in the cost of living.

Eläkepäiväraha can be a significant source of income for the elderly, enabling them to maintain a reasonable standard of living. The funding for these benefits comes from various sources, including contributions from current workers and employers, as well as government taxes. The administration and regulation of eläkepäiväraha are typically handled by national social security institutions or government agencies. The system aims to provide a sustainable and equitable solution for supporting retired citizens.