Social policy in Finland involves a three-step approach to income security for dealing with risk:

• minimum security financed from taxation,
• earnings-related income security by statutory social insurance,
• income security arranged by private insurance.

Statutory forms of insurance

Statutory, compulsory insurance includes:

• earnings-related pension insurance
• accident insurance
• patient insurance
• motor liability insurance
• environmental damage insurance.

In addition to the statutory forms of insurance, people can get insurance cover for themselves or their family using private pension insurance and life insurance.

The Ministry of Social Affairs and Health is responsible for the development of statutory insurance, drafting legislation and confirming the calculation bases of authorised pension institutions.