Newsletter November 13 2020

Who will be the 500,000th member of YTK?

YTK has grown every year since it was founded and soon there will 500,000 of us. This year up to 80,000 new members have joined us. We are very happy about each new member and especially about the fact that this year young people in particular have understood how important it is to look after their earnings-related security by joining the fund.

The large volume of YTK members means that soon every fourth employee will be a member of YTK. Large size ensure that we are efficient, able to develop our services for the benefit of our members, and easy to reach when needed.

We are now excited to see who will be the 500,000th member of YTK! So now is the right time to remind your family members, friends and acquaintances – especially the young people – about YTK membership and fixing earnings-related security in an easy way. Maybe our 500,000th member will be someone you recommended to join!

We are updating the number of our members every weekday on the last line of the statistics page. You are welcome to follow the growth with us!

P.S. The best reason for joining the fund is that you can never know what will happen. That’s why you may soon bump into giant bunnies in the city or get office dogs as colleagues. You never know… Spot our forthcoming advertising campaign!

Tell your friends about us with sharing this letter.

What to do if I am laid off?

You can also apply for earnings-related daily allowance if you are laid off. From the point of view of the Unemployment Security Act, a laid off person is unemployed, so nearly all rules concerning unemployed persons are also directly applicable to laid off persons.

  1. Register in the TE Office
  2. Send an application for daily allowance

Reminder to applicants of earnings-related daily allowance!

Remember to keep your job-seeking in force in the TE Office. Registering as an unemployed jobseeker and the validity of job-seeking are absolute requirements for us to be able to pay you earnings-related daily allowance.

Weekday public holidays – simply complicated!

As the year is approaching its end, we are receiving many questions regarding how possible compensations for weekday public holidays affect earnings-related daily allowance. They are good questions, but hard to answer! Compensation for weekday public holidays can be implemented in many different ways, and their effect on earnings-related security depends on those.

Processing times are at a good level

Last spring the lay-offs due to the coronavirus were visible and their effects were felt widely. In YTK they resulted in a huge number of applications which we then processed throughout the spring and summer nearly around the clock. In August, the processing times were almost back to normal, and after that the processing times have remained at a good level through the autumn. The processing time of first-time applications is about two weeks. As a rule, further applications are processed automatically, so there is no wait with them. Further applications that include changes or e.g. part-time employment are usually processed in about a week. You can follow the current processing times on our website here.

Although the situation is now good, the coronavirus still affects the processing times. At YTK, we are still in remote work and are otherwise careful not to fall ill. The unemployment rate is also still quite high, and based on the economic outlook we expect the employment situation to continue to be fairly weak for some time into next year.

We wish strength and happiness to everyone!