työeläkekorvauksia

Työeläkekorvauksia refer to earnings-related pension benefits in Finland. These benefits are based on the earnings that an individual has accumulated during their working life. The Finnish statutory pension system is funded by contributions from both employers and employees, and these contributions form the basis for future pension payments.

The amount of työeläkekorvauksia is determined by the pension accumulation rate, which is a percentage of an individual's earnings. This rate varies depending on age. For example, the accumulation rate is higher for older individuals to ensure a more adequate pension upon retirement. The earnings used for calculation are typically those earned up to the retirement age.

There are various types of earnings-related pensions, including old-age pensions, disability pensions, and survivors' pensions. An old-age pension is the most common type, paid to individuals who have reached the statutory retirement age and have fulfilled the required pension earning periods. A disability pension is granted to individuals whose ability to work has permanently decreased due to illness or disability. Survivors' pensions are paid to the surviving spouse and children of a deceased insured person.

The administration of these pensions is handled by pension providers, such as Ilmarinen, Varma, and Elo. These institutions are responsible for collecting contributions, managing investments, and paying out pension benefits. Pension amounts are adjusted annually to account for inflation and wage development, ensuring that their value is maintained over time. The Finnish earnings-related pension system aims to provide a reasonable level of income security for individuals in their old age, after periods of illness, or for their families in the event of death.