Työttömyyseläke

Työttömyyseläke, meaning unemployment pension in Finnish, is a social security benefit available in Finland for older unemployed individuals. It is designed to provide a basic income security for those who are nearing retirement age and have lost their employment, making it difficult to find new work.

To be eligible for työttömyyseläke, an individual must meet specific age and employment history criteria. Generally, applicants must be between 63 and 64 years old, although the exact age limit has been subject to changes in Finnish social security reforms. A significant employment history, typically meaning a certain number of years worked and contributions made to the Finnish pension system, is also a prerequisite. The benefit is intended for those who have exhausted their entitlement to unemployment benefits and are not yet eligible for the statutory old-age pension.

The amount of työttömyyseläke is calculated based on the individual's previous earnings and work history. It aims to provide a level of income that is sufficient for basic living expenses. The benefit is administered by the Finnish Centre for Pensions (Kela) or other relevant pension providers. While it offers a safety net, it is important to note that policies regarding työttömyyseläke can evolve as part of broader social and economic reforms in Finland, often aiming to encourage longer working lives.