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In a move aimed at supporting young families, the Finnish government has announced an increase in child benefit for children under the age of three. Starting from April 1, 2024, the child benefit will see a rise of EUR 26 per month, enhancing financial support for parents during the critical early years of their children's lives.

The adjustment was ratified by Parliament and is set to commence with the April child benefit payments, which are scheduled for distribution on April 26, 2024.

Families do not need to undertake any procedures to receive the augmented amount, as Kela, the Finnish Social Insurance Institution, will automatically update the benefit for eligible recipients.

Under the new scheme, the monthly child benefit for the first child under three will be EUR 120.88. For families with several children under three, the benefit increases incrementally with EUR 130.84 for the second child, EUR 159.79 for the third, EUR 199.24 for the fourth, and EUR 218.69 for each additional child under the age of three.

The child benefit, a cornerstone of Finland's family support system, is paid from the month following the child's birth until the end of the month in which the child turns three. Payments are made on the 26th of each month, ensuring consistent support for families.

It's important to note that these changes will not affect the child benefit rates in the Åland Islands, where the amounts are determined by the local government. This increase is part of a broader initiative to bolster the child benefit, with other enhancements having taken effect at the beginning of 2024.

This policy update underscores Finland's commitment to fostering a supportive environment for young families, recognizing the pivotal role of early childhood in laying the foundation for a prosperous future.

HT

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