Unemployment security
Majority of BBA students are working at some point of their studies. When you start working and update your membership to Black level, you are insured against unemployment in The Unemployment fund for highly educated KOKO. The membership of the fund entitles you to earnings-related unemployment benefit after graduation, if you become unemployed. You have to be currently employed in order to join the fund.
Why it makes sense to join the fund?
If you become unemployed, as a unemployment fund member you will receive earnings-related unemployment allowance, the amount of which is based on your income. In case you are not a member of an unemployment fund, you can apply for unemployment allowance from Kela. The amount of allowance that Kela pays is smaller than the earnings-related unemployment allowance. The difference is prominent.
Full-time students are not entitled to receive earnings-related unemployment allowance. The right to receive daily allowance begins after graduation and you are not entitled to receive daily allowance in case you will not find a summer job, for example. However, joining the fund is a smart choice regarding the possibility of unemployment after graduation. Many BBA students work during their studies and qualify for the allowance immediately after graduation.
How do I qualify for the unemployment allowance?
To qualify for earnings-related unemployment allowance, you must meet the employment condition, which requires that
- you have been employed and a black level student member for at least 12 months (does not have to be continuous employment; the employment condition can also be accumulated in shorter sections, for example in summer jobs)
- your salary has been determined according to the applicable collective agreement or, if no collective agreement applies, the full-time pay must be a minimum of 1339 euros/month (in 2024).
The employment condition is accumulated either in whole or half months. It is accrued for the month in which the salary is paid.
- A whole month is accumulated, if you have been paid at least 930 euros in a calendar month.
- A half month is accumulated, if you have been paid at least 465 euros, but less than 930 euros in a calendar month. Two half months equals one whole month.
We recommed you to update to Black level immediately when you start working.
Update your membership to Black level >>
Questions about unemployment security? Don't hesitate to contact our unemployment security counseling!
unemployment@tradenomi.fi
tel. 020 155 8800