Mar 21 • 05:01 UTC 🇫🇮 Finland Yle Uutiset

Will the guarantee pension and national pension be combined soon? Many immigrants' incomes would drop

Finland is considering merging its national pension and guarantee pension systems, which could impact the financial security of numerous immigrants.

Finland's social and health ministry is contemplating merging the national pension, which has been paid for almost 90 years, and the guarantee pension, established 15 years ago, into a single system. This shift arises from discussions about the necessity of maintaining two distinct minimum security systems, especially since the payment of national pensions to beneficiaries living abroad has already ceased. Social Security Minister Sanni Grahn-Laasonen advocates for this integration, suggesting it would streamline processes and reduce bureaucracy in the pension system, which currently consists of three separate pensions: work, guarantee, and national pensions.

The potential merger aims to maintain clarity for beneficiaries and ease any administrative burdens they face. Grahn-Laasonen assures that the merging of these two pensions will be a smooth transition, emphasizing that any assessments are focused on ensuring that changes do not create uncertainty regarding future security for recipients. The ministry appears prepared to start preparatory work on this issue while carefully considering the potential impacts on various groups, particularly immigrants who may rely heavily on these pension systems.

This proposed change could significantly affect many immigrants in Finland, as adjustments to their income through either pension system might lead to financial instability. As the government continues to assess this situation, the implications of combining these benefits could raise important discussions on the broader social security framework in Finland, particularly concerning the needs of immigrant populations and the overall inclusivity of the system.

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