Starting in May, a notable change in Finland's social security will introduce a new universal allowance, which will replace the existing unemployment benefits. This alteration is expected to have a negative impact on certain recipients of the popular partial old-age pension. Currently, it is possible to receive the partial pension without it affecting the basic allowance, but according to pension company Elo, this will change with the new regulations.

The new universal allowance will have a monthly income limit of 311 euros, meaning any income beyond this threshold will reduce the allowance by 50 percent. This presents significant challenges for those currently on basic allowance who are receiving partial pensions and will transition to the new universal support. The change can potentially take away up to 70 euros a month for these individuals, leading to financial strain.

The modifications to the social security system have raised concerns among pensioners who rely on their partial pensions to supplement their income. The ramifications of this change could result in increased financial insecurities for these individuals, necessitating further discussions on how to support those most affected by the transition to the universal allowance.