The Employment Fund collects unemployment insurance contributions, which are used to finance unemployment allowances and adult education allowances, among other things. The Employment Fund will ensure the continuation of its operations in this exceptional situation. We have prepared measured to secure our basic functions during the coronavirus epidemic.
Our primary goal is to secure our statutory basic functions: collection of unemployment insurance contributions, financing of unemployment allowances and financing of adult education allowances. We will ensure good liquidity at all times, so that benefits can be financed as normal for unemployment funds, Kela, the Finnish Centre for Pensions and recipients of adult education allowances. If we are faced with spread of disease that affects our personnel extensively and over a long period, our other services might experience delays in processing times or there could be changes to our service channels.
In addition to guidelines, we have also prepared for the situation with arrangements such as deputy personnel arrangements and increasing expertise in different service areas to allow our service specialists to work flexibly in different processing duties. We have also increased our employees’ possibilities to work remotely on duties that are independent of location. We take the situation seriously but calmly.
We will pay close attention to the situation and implement additional measures if necessary. We will announce any changes to our services on our website and Twitter. Information on how the situation may affect customers will also be published on LinkedIn.
Bonds are EUR 600 million each.
The biggest changes relate to the application process, the amount of the allowance and study performance requirements. The Parliament of Finland passed the new law on 29 May 2020.