Eläkkettä

Eläkkettä is a Finnish term referring to pension. It encompasses various types of retirement income designed to provide financial security for individuals after they have stopped working. In Finland, the pension system is largely earnings-related and mandatory for most workers.

There are two main categories of pensions in Finland: statutory pensions and voluntary pensions. Statutory pensions are funded through contributions made by both employees and employers, as well as through state funding. These include old-age pensions, which are the most common type, disability pensions, and survivors' pensions. Old-age pensions are typically granted when a person reaches their statutory retirement age, though early retirement options are also available under certain conditions.

Disability pensions provide income for individuals who are unable to work due to illness or injury. Survivors' pensions are paid to the surviving spouse or children of a deceased person who had earned pension benefits. The amount of statutory pension is calculated based on the individual's earnings throughout their working life.

Voluntary pensions, on the other hand, are not mandatory and are typically arranged through private insurance companies or employers. These can supplement the statutory pension and provide additional financial resources in retirement. The Finnish pension system is managed by various institutions, with the Finnish Centre for Pensions (Eläketurvakeskus) playing a central role in administering and overseeing the system. The aim of eläkkettä is to ensure a reasonable standard of living for citizens in their old age and to compensate for loss of earnings due to disability or death.