Effect of Unemplyment Benefits

[sk81210]

Hi,

I will be unemployed from next year, and will be applying for unemplyment benefits. I have some savings in my account, I would like to know whether the Unemplyment benefits are effected by my savings, or do I have to empty my bank account before applying for benefits.

Thanks.

[Karhunkoski]

Hi,

I will be unemployed from next year, and will be applying for unemplyment benefits. I have some savings in my account, I would like to know whether the Unemplyment benefits are effected by my savings, or do I have to empty my bank account before applying for benefits.

Thanks.

Yes it affects if your savings are over a certain limit. Are you planning to circumvent the law by withdrawing all your savings and hiding them under your mattress?

[Rip]

Yes it affects if your savings are over a certain limit. Are you planning to circumvent the law by withdrawing all your savings and hiding them under your mattress?

I have no disagreement with the second part, but the unemployment benefits (all of them: earnings related, basic unemployment benefit or the labour market subsidy) are not affected by your own savings. Labour market subsidy can in sometimes be affected by capital income, but not by having assets as such.

[Pursuivant]

Savings really only come into effect if you go to apply for welfare handouts.

[sk81210]

Thankyou guys for replying.

I don't have thousands of euros to hide

I just saved couple of thousands to help me out on rainy days. That's the reason I wanted to make sure my savings won't hamper unemplyment benefits

[sk81210]

Savings really only come into effect if you go to apply for welfare handouts.

whats this welfare handouts

[Upphew]

Savings really only come into effect if you go to apply for welfare handouts.

whats this welfare handouts

http://rovaniemi.fi/Kansainvalinen-sivu ... -Services-
http://www.hel.fi/hki/Sosv/en/Services+for+Adults

[Karhunkoski]

the unemployment benefits (all of them: earnings related, basic unemployment benefit or the labour market subsidy) are not affected by your own savings.

Rip is absolutely correct. I had just remembered someone who had claimed benefits when unemployed and had been told that they could hold a maximum of 3-4k in savings before the benefit was affected. It must have been some different benefit. Sorry if I caused any confusion to the OP, especially at a time when you're facing unemployment.

[Upphew]

the unemployment benefits (all of them: earnings related, basic unemployment benefit or the labour market subsidy) are not affected by your own savings.

Rip is absolutely correct. I had just remembered someone who had claimed benefits when unemployed and had been told that they could hold a maximum of 3-4k in savings before the benefit was affected. It must have been some different benefit. Sorry if I caused any confusion to the OP, especially at a time when you're facing unemployment.

So if it's more than 4k what happens? I was checking the labour market subsidy calculator and it doesn't ask for assets but rather as Rip mentioned, capital income. So in that case any amount of savings shouldn't affect the subsidy.

Työmarkkinatuki != toimeentulotuki
subsistence benefit calculator: http://www.hel.fi/hki/sosv/fi/sosta/tue ... ukilaskuri

[Karhunkoski]

the unemployment benefits (all of them: earnings related, basic unemployment benefit or the labour market subsidy) are not affected by your own savings.

Rip is absolutely correct. I had just remembered someone who had claimed benefits when unemployed and had been told that they could hold a maximum of 3-4k in savings before the benefit was affected. It must have been some different benefit. Sorry if I caused any confusion to the OP, especially at a time when you're facing unemployment.

So if it's more than 4k what happens?

Sorry I don't know Floyd. As I said, I rememeber someone trying to claim benefits who was told that 3-4k would invalidate their claim. If anyone reallly needs to know accurate numbers, they should be asking from the benefit provider (not an internet forum).

[Upphew]

"Muut tulot:
(säästöt, pääomatulot, tilillepanot yms.)"

[atas]

It is a bit strange regulation. Aren't the state supposed to have the burden of proof for high savings, if that's the case? So how a claimant would go about to prove that s/he is poor: bring certificates from every bank that s/he has low/no savings? Or how else would that work in practice?

[Upphew]

It is a bit strange regulation. Aren't the state supposed to have the burden of proof for high savings, if that's the case? So how a claimant would go about to prove that s/he is poor: bring certificates from every bank that s/he has low/no savings? Or how else would that work in practice?

Työmarkkinatuki = labour market subsidy = state
Toimeentulotuki = subsistence benefit = county
Yeah, you show them your bank statements.

[Rip]

Does anyone know how to quantize the savings amount to fit the revenue per month when filling an application for the subsistence benefit?

Are we talking about "toimeentulotuki" (if not, please clarify)? If you have savings, you won't get it.

[Rip]

Yes it's the toimeentulotuki. So you're saying, any amount of savings cancels it?

They want to see your bank account balances. If you have savings, you won't get it.