Eläkevakuutusten

Eläkevakuutusten, or pension insurance, refers to a type of insurance policy in Finland designed to provide income during retirement. These policies are a way for individuals to supplement their statutory earnings-related pension, which is managed by various pension institutions like Ilmarinen, Varma, and Elo. Eläkevakuutusten can be either voluntary or part of an employment agreement, often with employer contributions.

There are typically two main types of eläkevakuutusten: traditional and unit-linked. Traditional policies guarantee a certain return or a minimum payout, while unit-linked policies invest the premiums in funds, with the retirement income dependent on the performance of those investments. The specifics of how these policies are structured, including contribution limits, tax implications, and payout options, are governed by Finnish legislation.

The purpose of eläkevakuutusten is to ensure financial security for individuals in their later years. Contributions made to these policies can often be tax-deductible up to certain limits, making them an attractive savings vehicle. Upon retirement, the accumulated funds or the guaranteed payout can be withdrawn as a lump sum or as regular pension payments. The management and regulation of these insurance products are overseen by Finnish authorities to protect policyholders.