eläkkeestä

Eläke is the Finnish word for pension. It refers to a regular payment made during a person's retirement from employment, typically provided by the state or a private pension fund. In Finland, the pension system is largely earnings-related, meaning the amount received is based on an individual's work history and earned income. There are different types of pensions, including statutory earnings-related pensions, occupational pensions, and national pensions for those with limited work history or income.

The Finnish pension system is managed by various pension providers, such as Ilmarinen, Varma, and Elo, which are private companies but operate under strict regulation. The system aims to ensure a reasonable standard of living for individuals after they stop working. Retirement age in Finland is gradually increasing, and individuals can choose to retire at different ages depending on their career and pension accrual. Pension contributions are typically shared between employers and employees, with self-employed individuals also contributing.

The eligibility criteria and payout amounts are determined by Finnish pension legislation. These rules are subject to change over time to address demographic shifts and economic conditions. The pension system is a significant aspect of Finland's social security framework, providing financial security for its aging population. Understanding the Finnish pension system, or eläke, is crucial for residents and those planning to work or retire in Finland.