eläketurvavarannon

Eläketurvavaranto is a Finnish concept that translates to "pension security fund" or "pension safety net" in English. It is a fund designed to ensure that pensioners and their families receive a basic level of financial support in case the pension scheme of an employer or a profession-based pension plan is incapable of providing adequate benefits.

The Eläketurvavaranto was established in 1998 to address the potential risks associated with changes in the economy, industry or profession that could affect the financial stability of pension plans. The fund is managed by the Finnish Centre for Pensions (Elo) and is funded through voluntary contributions from Finnish employers and employees.

The purpose of the Eläketurvavaranto is to provide financial support to pensioners who suffer from a reduction in their pension benefits due to changes in the economy, industry or profession. The fund can also provide support to families and dependents of deceased pensioners in such cases. The level of support provided by the fund is usually a portion of the pensioner's expected benefit and is determined based on the severity of the reduction.

Eläketurvavaranto is considered an essential component of the Finnish pension system, as it ensures that pensioners and their families are protected from the potential risks associated with changes in the economy or profession. By providing a basic level of financial support, the fund helps to maintain the stability and security of the pension system.