eläkepäivärahan

Eläkepäiväraha is a Finnish term that translates to "pension benefit" or "retirement benefit". It refers to the financial support provided to individuals who have retired from work in Finland. This benefit is a core component of the Finnish social security system, designed to ensure a basic standard of living for older citizens.

The eligibility for eläkepäiväraha is determined by factors such as age, employment history, and the amount of pension contributions made during one's working life. There are different types of pensions in Finland, including earnings-related pensions, which are based on an individual's previous income, and a basic pension, which provides a safety net for those with limited earnings history. The specific amount of eläkepäiväraha received is calculated based on a complex system that takes into account these various factors.

Finnish pensions are typically funded through contributions from both employers and employees, as well as government funding. The administration of these benefits is largely handled by pension providers and Kela, the Social Insurance Institution of Finland. The goal of the eläkepäiväraha system is to provide financial security and enable individuals to maintain their quality of life after they cease to be employed. Changes to the pension system are periodically reviewed and updated to ensure its sustainability and adequacy.