työttömyysvakuutusrahaston

Työttömyysvakuutusrahasto, often abbreviated as TVR, is a Finnish earnings-related unemployment insurance fund. It is a private, non-profit entity that operates on the principle of mutual insurance. The primary purpose of TVR is to provide financial security to its members in case of unemployment by paying out unemployment benefits. Membership in TVR is voluntary, but it is linked to participation in unemployment funds managed by trade unions or other employee organizations. These unemployment funds are the ones that collect contributions and pay out benefits to their members. TVR itself acts as a reinsurance fund, meaning it provides financial backing to these unemployment funds. If an unemployment fund faces a significant number of claims, TVR can help to stabilize its financial position. The funding for TVR comes from contributions paid by employers and insured employees, as well as from investment income. The system aims to encourage recipients to find new employment and to promote active labor market policies. It is supervised by the Finnish Financial Supervisory Authority.