Social security in Finland is organised on the basis of statutory insurance. The central form of insurance-based social security is the earnings-related pension.
Private sector earnings-related pensions are handled by authorised pension insurance companies, pension funds, pension foundations, the Seafarer's Pensions Fund and the Farmers' Social Insurance Institution.
The Seafarer's Pension Fund
Farmers' Social Insurance Institution
The Finnish State Treasury manages the state employees pensions
system, and Keva deals with the municipal pension
system.
Other types of compulsory statutory insurance are accident insurance, motor liability insurance, patient insurance and environmental damage insurance.
Private insurance companies handle all statutory insurance.
|
Earnings-related pension |
Employers have to take occupational pension insurance for all 18-68 year-old employees, when their monthly earnings exceed a certain amount. Earnings-related pensions are paid for working incapacity, long-term unemployment and old age. |
|
Accident insurance |
Employers take accident insurance for employees, to cover costs and loss of earnings incurred by work place accidents and occupational disease. |
|
Motor liability insurance |
Vehicle owners have to pay insurance to cover all personal injury and damage to another party's property. |
|
Patient insurance |
Taken by professions in health care or medical care to compensate for harm caused to patients through accident or neglect. This insurance covers harm caused by treatment, infection, accident, equipment, facilities or installations, or administering drugs. |
|
Environmental insurance
|
Insurance cover is taken by a firm or corporation that is required to have a licence from the environmental authorities. |
