The Finnish Financial Supervisory Authority published its 2024 data on unemployment funds, showing continued growth in earnings-related daily allowance expenditure, which rose 9% from the previous year to just under EUR 2 billion. The total number of allowance days paid increased 6%, with developments differing across funds. Across individual funds, earnings-related daily allowance expenditure fell in six funds and rose in eight, with changes ranging from a 15% decrease to a 26% increase. Beneficiaries decreased in five funds and increased in nine, with changes ranging from an 11% decrease to a 24% increase, while entrepreneurs’ earnings-related daily allowance expenditure increased 8% alongside a 9% rise in allowance days and a 4% rise in beneficiaries. Job alternation compensation expenditure was just under EUR 50 million, up 96%, and commuting and relocation allowances totalled EUR 2.8 million, around 3% less than in 2023. Transition security allowance for those aged 55 or over totalled just over EUR 12 million paid to 3,000 people in 2024, up 143% in euro terms, and is expected to fully replace allowances paid for additional days after a transitional period; processing times for approved full earnings-related daily allowance applications averaged 9 days across all funds and peaked at 11 days on average in the first quarter.
Finanssivalvonta 2025-05-30
Finnish Financial Supervisory Authority reports unemployment funds’ daily allowance expenditure up 9% to just under EUR 2 billion in 2024
The Finnish Financial Supervisory Authority reported a 9% increase in earnings-related daily allowance expenditure in 2024, reaching nearly EUR 2 billion. Variations were observed across funds, with some experiencing decreases and others increases in expenditure and beneficiaries. Notably, job alternation compensation expenditure surged 96% to just under EUR 50 million, while transition security allowance for those aged 55 or over rose 143% to EUR 12 million.