konkurssipesän

Konkurssipesän refers to the financial safety net that employers in Finland are required to maintain for the benefit of their employees in the event that the company goes bankrupt.

In Finnish law, employers with certain numbers of employees are obligated to establish a professional guarantee fund, also known as a konkurssipesän, to protect the interests of their workers in the event of insolvency. This fund is designed to provide a source of financial support for employees who would otherwise be left without income or benefits following the bankruptcy of the company.

The konkurssipesän typically consists of contributions from employers who are subject to the law, which are then pooled together to create a fund that can be used to pay out compensation to affected employees. The specific terms and conditions of the fund, including the amounts of contribution and the payout structure, are governed by Finnish law and regulations.

The konkurssipesän is intended to provide a measure of financial security for employees who might otherwise be left vulnerable in the event of a company's bankruptcy. By requiring employers to maintain a professional guarantee fund, the law helps to ensure that workers receive a degree of protection and support in the event of financial hardship.

In practice, the konkurssipesän is typically administered by the Finnish Centre for Pensions (Tyoeläkekeskus), which is responsible for managing the fund and disbursing compensation to eligible employees. The konkurssipesän is an important component of Finland's employment law and is seen as a key safeguard for the rights and interests of workers in the country.