Vapaaaikakorvaus

Vapääikäikorvaus is a type of retirement benefit provided to employees in Finland. The term roughly translates to "early retirement compensation" in English. This benefit is granted to employees who choose to retire before they reach the official retirement age.

The vapääikäikorvaus is typically paid proportionally to the number of years the employee has worked for the company. The amount of the benefit can vary depending on the employee's age, length of service, and salary at the time of retirement. In general, the stricter the retirement age requirements, the larger the benefit payment.

There are certain eligibility criteria that employees must meet to be eligible for vapääikäikorvaus. For instance, employees must be at least 53 years old and have worked for the company for at least 30 years. Employees who retire from the same company after 30 years or more of service qualify for the benefit.

The vapääikäikorvaus is considered a type of employer-provided benefit. Employers can negotiate this benefit as part of the collective bargaining process. Additionally, the benefit may also be influenced by other factors, such as the type of industry or profession.

While the vapääikäikorvaus is a way for Finnish employers to retain long-serving employees, it has been the subject of some criticism. Some argue that it creates a disincentive for older workers to continue working, which can lead to a brain drain in certain industries. Despite this, the vapääikäikorvaus remains a part of Finnish labor law.