työntekijäeläkettä

Työntekijäeläke, known in English as employee pension or earnings-related pension, is a statutory pension benefit in Finland that is funded by contributions made by employers and employees. It is a mandatory part of the Finnish social security system, ensuring that individuals who have worked and contributed throughout their careers receive an income in retirement. The system is earnings-related, meaning the amount of pension accumulated depends on the individual's income during their working life.

The Finnish employee pension system is managed by several private pension insurance companies, often referred to as pension providers. Contributions are typically split between the employer and the employee, with the employer paying a larger share. The pension accrues annually based on a percentage of the earned income, up to a certain ceiling. This accrued pension is then indexed over time, protecting its real value against inflation.

Upon reaching the statutory retirement age, which is gradually rising, individuals can apply for their employee pension. The pension is paid out monthly for the rest of the retiree's life. In cases of disability that prevent an individual from working, disability pensions can also be granted under the same earnings-related system. The employee pension system is a cornerstone of Finnish social welfare, aiming to provide economic security for individuals in their old age and during periods of reduced working capacity.