Takuueläkkeisiin

Takuueläkkeisiin, or guaranteed pensions, are a social welfare benefit in Finland. They are intended to ensure a minimum income for all pensioners, regardless of their previous earnings or employment history. The primary goal of takuueläkkeisiin is to prevent poverty among the elderly and to provide a basic level of financial security in retirement.

Eligibility for takuueläkkeisiin is determined by residency in Finland and age. Applicants must typically have resided in Finland for a certain period to qualify. The amount of the guaranteed pension is set at a level intended to cover basic living expenses. It is a supplementary payment, meaning it is paid in addition to any other pension that an individual may receive, such as an earnings-related pension. The guaranteed pension is adjusted to take into account other income and pensions. If a person's total pension income exceeds a certain threshold, the guaranteed pension may be reduced or not paid at all.

The takuueläkkeisiin system is administered by Kela, the Social Insurance Institution of Finland. Applications are processed by Kela, which assesses the individual's eligibility and the amount of guaranteed pension to be paid. The system is funded through state taxation. It represents a commitment to ensuring that all Finnish citizens have a basic income in their old age, reflecting the country's comprehensive social security system.