New unemployment fund Ote to launch at the beginning of 2026 – Provides unemployment security for highly educated professionals
The general meetings of the Unemployment Fund for Specially Educated People (Erko) and the Unemployment Fund for Education and Science have decided to merge. The formation of the new fund does not require any action from current members of either fund, and it will not affect the payment of benefits or unemployment security.
The Unemployment Fund for Specially Educated People (Erko) and the Unemployment Fund for Education and Science will merge to form the Unemployment Fund Ote. The new fund will begin operations on 1 January 2026, becoming the fourth largest unemployment fund in Finland with approximately 196,000 members.
Through Loimu, the members – also student members – can join the Unemployment Fund for Higher Educated Employees Erko. Only as a member of an unemployment fund can you be entitled to earnings-related unemployment benefit during unemployment or lay-off.