This year, the Employment Fund has received a record number of applications for adult education allowance. By the end of August, we have received a total of 24,800 applications from employees and entrepreneurs as well as applications for a preliminary decision.
“Between January and August, the number of applications for a preliminary decision by 46% from the previous year. An increased number of preliminary decision applications usually predicts an rise in the number of allowance applications,” says Merli Vanala, Director of Customer Relationships.
In terms of the entire year, we are approaching a new record as some 10,000 applications are still expected for this year. This would mean that during 2019, the Employment Fund will have received more than 35,000 applications, an increase of 2,000 from last year.
Following the publishing of final results of universities’ joint admission applications, August has traditionally been a popular month for applying for adult education allowance. The high number of applications has also resulted in longer processing times of benefit decisions at the Employment Fund. Currently, the processing time for adult education allowance applications is between 24 to 29 days.
“Next year, we will have access to information in the Incomes Register for granting adult education allowance. By receiving information on salaries and wages directly from the Incomes Register, we no longer need to request them separately from employers. This will help speed up processing times,” says Merli Vanala.
The issuance of the contemplated bonds is expected to take place by the summer of 2020.
The Employment Fund has published its Annual Report and Financial Statements for 2019.