Finnish proposals would extend survivor’s pensions for orphans

New proposals from the Finnish government mean that survivors' pensions could be granted to cohabitants or children for a period of 10 years, according to Veritas.

The proposals mean that a child who has lost a provider would in future be entitled to an orphan's pension until they reach the age of 20, as opposed to 18 under current rules, while a cohabitant could also be granted a survivor's pension, provided they had lived with the deceased for at least five years and that they had a joint minor child.

The amendments are not expected to come into force until 2022 and will apply to people born in 1975 or later.

Veritas commented that the need to develop family pension protection became relevant in connection with employment pension reform in 2017, leading the labour market's central organizations to present the reform plan to the government in the summer of 2019 before the proposal could now be sent for consultation now in the autumn of 2020.

Veritas director of pension services, Tiina Laine, said: “The reform plans for the family pension have taken into account the changes in the need for protection.

"The idea is that the family pension will continue to support the family's total income during the transition period that the widow or widower faces after the death of the spouse.”

    Share Story:

Recent Stories


Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows

Europe’s pensions challenges
Francesca Fabrizi meets Matti Leppälä, Secretary General and CEO of PensionsEurope, to discuss the key aims and objectives of the association today.