Employee Benefits in Finland

Date: 2015-09

“Finland has one of the most developed and well-established welfare systems in the Nordic region. In order to facilitate its citizens with decent living conditions, the Finnish government provides various welfare schemes, including social insurance for sickness, pension and unemployment, workers’ compensation and a comprehensive health scheme. In addition, the government provides other welfare schemes such as child-care services, family aid and disabled services.

The Finnish social security system is broadly divided into two categories: the residence-based system and the earning-related system. The residence-based social security system is financed by revenue from various general taxes including earned income tax, property tax and corporate tax and is governed by the independent Social Security Institute, known as Kela (Kansaneläkelaitos). In contrast, the earning-related social security system is financed through contributions made by the private pension fund and private insurance companies, and is governed by the Finnish Centre for Pensions.”

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