Finland boosts child benefits in 2024: Enhanced support for larger families and single parents

By admin On Dec 18, 2023

Family at home. LEHTIKUVA

In a significant move to support families, the Finnish parliament has approved amendments to the Act on Child Benefits, leading to an increase in child benefits starting from 2024. The changes focus on families with four or more children and single parents, enhancing support for these groups.

From January 1, 2024, child benefits for families with four or more children will see a substantial increase.

The benefit for the fourth child in a family will be raised by EUR 10, amounting to EUR 173.24 per month. Subsequently, for the fifth child and each additional child, the benefit will be increased by EUR 10, reaching EUR 192.69 per month. These benefits apply to children under the age of 17.

Alongside this, the single-parent supplement to the child benefit will also see an increment. Starting January 2024, it will be raised by EUR 10, totaling EUR 73.30 per month. Notably, this supplement is available even in cases of joint custody, provided the parent is not married or cohabitating with a partner.

Furthermore, starting April 1, 2024, child benefits for children under three will be increased by EUR 26. This enhanced benefit will be paid until the child reaches three years of age. For families with multiple children under three, the benefit amounts per month will be 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 subsequent child.

It’s important to note that these amendments do not apply to child benefits in the Åland Islands, where the rates are determined by the Government of Åland.

In 2022, Kela, the Finnish Social Insurance Institution, disbursed child benefits to over 563,000 parents for more than a million children, with 125,000 parents receiving the single-parent supplement.

The increases in child benefit amounts will be automatically implemented by Kela in 2024, requiring no action from the recipients. Child benefits are typically disbursed on the 26th of each month, or the preceding banking day if the 26th falls on a weekend or holiday.

Source: www.helsinkitimes.fi