Changes to unemployment security from 1 January 2024 - New legislation confirmed by the Parliament
On 15 December, the Finnish Parliament confirmed multiple legislative amendments that affect unemployment security. The new legislation will come into effect on 1 January 2024, but individual changes will be implemented in three different stages during 2024.
The first batch of changes will be implemented from 1 January 2024:
Extension of the waiting period from 5 days to 7 days
Starting from 1 January 2024, the waiting period for unemployment benefit will be seven days. A waiting period is invoked when you first apply for earnings-related allowance or when your work requirement is met again.
Periodization of holiday compensation
Holiday compensation paid for full-time employment that ends on or after 1 January 2024 will be periodized. Holiday compensation received for unused vacation days postpones the start of eligibility for unemployment benefit.
Suspension of index increases
Benefits tied to the National Pensions Index (such as the basic component of unemployment daily allowance) will not be increased between 2024-2027.
The legislative amendments approved by the Parliament also include other changes (such as removal of child increase and extension of the work requirement) but they will be implemented later in 2024. We will provide more information on the subject in the upcoming months.
For the most recent information about all the upcoming legislative changes, please visit our Legislative Changes 2024 section.