eläkee

Eläkee is a Finnish word that translates to "pension" or "retirement pension" in English. It refers to the regular payments made by the state or a pension provider to individuals who have reached a certain age or are no longer able to work due to disability. The Finnish pension system is largely funded through mandatory contributions from employers and employees, as well as government funding.

There are different types of pensions in Finland, including earnings-related pensions, which are based on an individual's work history and earnings, and national pensions, which are a basic safety net for those with low earnings or no earnings history. Earnings-related pensions are managed by various pension institutions. The age at which one can retire and begin receiving pension benefits can vary depending on the specific pension scheme and individual circumstances, though there are also flexible retirement options.

The purpose of eläkee is to ensure financial security for individuals after their working lives have ended, allowing them to maintain a reasonable standard of living. The Finnish system aims to be comprehensive and sustainable, with ongoing discussions and reforms to address demographic changes and economic conditions. The system is administered by Kela (The Social Insurance Institution of Finland) and various pension providers.