According to Finnish law, a holder of a grant amounting to at least 1 300 euros (2019 level) and awarded in Finland for full-time research in Finland for an uninterrupted period of at least four months must take out a statutory pension insurance, an occupational accident insurance and a group life insurance. The pension insurance accumulates the pension security in view of old age and disability for work. The insurance is - with some exceptions - mandatory for all full-time grants awarded from Finland. The cost for the insurance secure is estimated to approximately 15 percent of the grant amount.
The grant issuers are responsible for informing the insurance institution Mela about grants awarded that meet the criteria for the legislation. Mela is responsible for the pension and occupational accident insurance and group life insurance for grant holders.
As a grant holder, you must yourself be active in the process and apply for insurance coverage from the insurance institution Mela. For more information and application forms in English: www.mela.fi -> English -> "More information about the insurance for people with grants"; phone: + 358 29 435 11, or through Mela's secure e-mail service.
The Rector of Hanken School of Economics has decided that all recipients of grants from the Funds at Hanken or from the funds donated to Hanken for at least four months of work and amounting to at least the level mentioned above are awarded funding for the statutory insurance offered by Mela. If it turns out that Mela's statutory insurance is not available for the grant holder, he/she may use the funds for taking out a private insurance. Additional funding is not awarded if the costs of the private insurance exceed the amount awarded for the costs for the statutory insurance offered by Mela.