Työeläkekorvauksilla

Työeläkekorvauksilla refers to earnings-related pension benefits in Finland. These benefits are paid from the earnings-related pension system, which is funded by contributions from employees, employers, and the self-employed. The purpose of the system is to provide income security for individuals after they retire from working life.

The amount of the earnings-related pension is based on an individual's lifetime earnings. A pension accrues based on annual earnings up to a certain income limit. This accrual rate is a percentage of the annual earnings. When a person reaches the statutory retirement age, their accumulated pension capital is converted into a monthly pension benefit. The conversion method is determined by the pension act and can vary depending on the year of birth.

Työeläkekorvauksilla can be claimed in several situations beyond normal retirement. These include disability pensions, which are granted if a person's working capacity is permanently reduced due to illness or injury. Survivors' pensions are also part of the system, providing financial support to the surviving spouse or children of a deceased insured person. In addition, partial early retirement pensions allow individuals to reduce their working hours and receive a partial pension while continuing to work.

The administration of the earnings-related pension system is handled by various pension providers, such as Ilmarinen, Elo, Varma, and Veritas, as well as the Finnish Centre for Pensions. These institutions are responsible for collecting contributions, managing investments, and paying out pension benefits. The system is designed to be sustainable and adapt to demographic changes and economic conditions.