Administration and rules of the fund

1 § 

Name, domicile, operating area and purpose of the fund

The name of the fund is Työttömyyskassa Ote. Hereinafter in these rules, it is referred to as ‘the Fund’. The domicile of the Fund is the City of Helsinki

The Fund may, by decision of the Fund Meeting, support the employment of its members in accordance with the provisions of the Unemployment Funds Act.

The operational area of the Fund covers the entire country.

The Fund is a community operating on the basis of mutual responsibility, with the purpose of providing its members with the earnings‑related daily allowance and expense compensation referred to in the Unemployment Security Act, as well as other statutory benefits within the Fund’s scope of operations, in accordance with the legislation in force at any given time.

2 § 

Membership conditions and joining the fund

A paid employee covered by the Unemployment Security Act, who has not reached the age of 68, and who has completed higher education or other corresponding special training, or is studying to obtain such education, or works in a position or field requiring such education, may be accepted as a member of the Fund, provided that the Fund approves the membership.

A paid employee is considered to be a wage earner whose livelihood is deemed to be based on salary income received for work performed for another party.

A member of the Fund may not simultaneously be a member of another unemployment fund.

A written application for membership must be submitted to the Fund.

Membership applications are approved or rejected by the Fund Director or an employee of the Fund authorized by the Board.

Membership begins on the day the application is received by the Fund, provided that membership fees are paid starting from that same day.

The Fund will issue a decision on membership approval when necessary and always upon the member’s request.

An unemployed member of the Fund may join another unemployment fund within one month from the date on which the Fund of which they are a member is dissolved, placed into liquidation, or declared bankrupt. The one‑month period begins from the decision of the Fund meeting placing the Fund into liquidation or dissolving it, or from the court decision declaring the Fund bankrupt.

3 § 

Resigning from the fund

If a member wishes to resign from the Fund, they must notify the Fund in writing. The resignation takes effect no earlier than on the date the notification is received or on a later date specified in the notification.

Membership in the Fund ends at the latest at the end of the calendar month in which the member turns 68. 

4 § 

Notice, warning and expulsion from the Fund 

After hearing the member, the Board of the Fund may issue a notice, a warning, or expel from membership any person who:

1. has provided false or misleading information when joining the Fund, 

2. has fraudulently given incorrect information or concealed any fact that affects the right to or the amount of a benefit, and

3. refuses to comply with the rules of the Fund.

If a member has not paid their membership fees within three (3) months from the beginning of the period to which the fees apply, they may be expelled from the Fund as of the date from which the fees have remained unpaid.Kassan hallitus voi jäsentä kuultuaan antaa huomautuksen, varoituksen tai erottaa kassan jäsenyydestä sen,  

The decision on expulsion is made by the Fund Director or by an employee of the Fund authorized by the Board. 

The Fund Director or an employee of the Fund authorized by the Board must hear the member before making a decision on expulsion.

The Fund Director or an employee of the Fund authorized by the Board may expel from membership a person who has permanently moved away from an occupation or field that falls within the scope of the Fund’s activities.

Permanent departure from the Fund’s scope of activities is also considered to include the exercise of full‑time self‑employment under the Unemployment Security Act for a period exceeding 18 months.

5 § 

Rejoining the fund 

If a member, after leaving the Fund, joins another wage‑earner unemployment fund within one month, the employment condition and insured period accumulated during their previous membership will be credited to them in accordance with the provisions of the law.

If a member who has been expelled is accepted again as a member, their previous periods of employment or membership in the Fund, as well as any membership fees previously paid, will not be credited. This also applies to a person expelled from another unemployment fund who is accepted as a new member of this Fund.

6 § 

Membership fees 

The membership fee is a fixed monthly fee in euros, confirmed annually by the Financial Supervisory Authority (Finanssivalvonta).

Membership fees must be paid in the manner determined by the Board no later than three (3) months from the beginning of the period to which they apply.

It is not possible to receive an exemption from the membership fee during the membership period.

If a person joins, resigns from, or is expelled from the unemployment fund in the middle of a calendar month, they must still pay the membership fee for the entire month.

A member who resigns or is expelled is not entitled to a refund of membership fees paid for any period preceding the resignation or expulsion.

A refund of membership fees for a period not covered by membership is made upon the person’s written request. The request must be submitted to the Fund within three (3) months.

Any unpaid membership fee arrears may be deducted when paying the daily allowance.

Amounts under ten (10) euros will not be refunded.

III LUKU Administration of the Fund

7 § 

Governing Bodies

The governing bodies of the Fund are the Fund Meeting, the Board, and the Executive Committee.

8 § 

General meeting 

Kassan ylintä päätäntävaltaa käyttää kassan jäsenten kokous. Kokouksen ajan, paikan ja osallistumistavan määrää kassan hallitus.  

Kassan kokouksessa kullakin läsnä olevalla jäsenellä on yksi ääni. Äänten mennessä tasan ratkaistaan vaali arvalla, muissa asioissa tulee päätökseksi se mielipide, johon kokouksen puheenjohtaja on yhtynyt. 

9 §  

Ordinary meeting of the Fund

The highest decision‑making authority of the Unemployment Fund is exercised by the Ordinary meeting of the Fund. The meeting is convened by the Board.

The Ordinary Meeting of the Unemployment Fund is held annually, no later than the end of May.

The notice of the Fund Meeting must be published on the Fund’s website or in another manner decided by the Board at least two weeks before the meeting.

The Fund Meeting may be attended, if the Board so decides, by means of a data connection or other technical aid as provided in the Unemployment Funds Act. The highest decision‑making authority of the Unemployment Fund is exercised by the General Meeting of the Fund. The General Meeting is convened by the Board.

At the Ordinary Meeting, the following matters shall be addressed:: 

1. presentation of the Board’s annual report and the auditor’s report for the previous financial period,

2. approval of the financial statements for the previous year, 

3. decisions on any actions arising from the administration and accounts,

4. pdecision on the treatment of the financial result for the financial year, 

5. decision on granting discharge from liability to the accountable officers, 

6. determination of the remuneration and compensation for loss of earnings for the Chair of the Board, other Board members, members of the Executive Committee, and the auditors

7. decision on the number of Board members to be elected for the next three‑year term

8. election of the Board members whose terms are expiring and their personal deputies 

9. election of two auditors and a deputy auditor in accordance with the provisions of the Unemployment Funds Act, 

10. determination of the basis for the membership fee, and  

11. handling of any other matters specified in the meeting notice.

No matters other than those listed above may be finally decided at the meeting. 

10 § 

Extraordinary meeting of the fund

An extraordinary meeting of the fund must be held if:

1. the fund’s Board considers it necessary;

2.  it is required by the Financial Supervisory Authority or by the auditors if the audit they have performed gives cause for one to be held; or

3.  it is requested in writing by at least one tenth of the members to discuss a specific matter.

If the number of members of the Fund falls below 8,000, an Extraordinary General Meeting of the Fund must be convened without delay to decide whether the operations of the Fund are to be continued and what measures must be taken in such circumstances.

If the Board of the Fund, without a lawful reason, refuses to convene an Extraordinary General Meeting, the meeting must be convened by the Financial Supervisory Authority.

The meeting notice must specify the matters to be discussed. No matters other than those listed in the notice may be finally decided at the meeting.

11 § 

Fund’s Board

The General Meeting of the Fund elects 9–14 members to the Board and a personal deputy member for each of them. The Chair and each member of the Board must be at least 18 years of age and meet the eligibility requirements laid down in the Unemployment Funds Act.

At least two thirds (2/3) of both the ordinary and deputy members of the Board must remain members of the Fund throughout their entire term of office.

When electing the Chair, Vice Chair, and members of the Executive Committee of the Board, if the votes are tied, the election shall be decided by drawing lots.

The term of office for a Board member is three (3) years. One third (1/3) of the Board members shall retire annually. The personal deputy members of those retiring from office shall retire at the same time.

At its first meeting each year, the Board shall elect a Chair and a Vice Chair from among its members.

If the position of a Board member becomes vacant during the term or if a Board member loses their eligibility, their duties shall be carried out by their personal deputy until a new Board member is elected at the next Ordinary or Extraordinary General Meeting of the Fund.

12 § 

Activities of the Board

The Board shall meet at the invitation of the Chair or, if the Chair is prevented from doing so, at the invitation of the Vice Chair.

The Board has a quorum when the Chair of the meeting and, in addition, at least half of the Board members are present either in person or by remote connection.

A decision of the Board is adopted by a majority vote. If the votes are tied, elections shall be decided by drawing lots; in other matters, the decision follows the opinion supported by the Chair of the meeting.

Minutes shall be kept of Board meetings, and they must be reviewed no later than at the next meeting of the Board.

13 § 

Duties of the Board

The Board shall:

1. ensure that the affairs of the Fund are managed in accordance with the law, regulatory requirements, the rules of the Fund, the decisions of the General Meeting, and the operational guidelines approved by the Meeting,

2. be responsible for the strategic direction of the Fund, 

3. ensure that the Fund has an effective governance system with clearly defined areas of responsibility,

4. prepare a continuity plan for the Fund, 

5. ensure that the Fund has adequate internal controls and sufficient risk‑management systems, and prepare the related written policies,

6. ensure that the Fund has written policies on remuneration, 

7. decide on the principles governing outsourcing,

8. prepare the operational plan and budget for the following calendar year and submit an annual proposal to the Financial Supervisory Authority regarding the amount of the membership fee

9. prepare an investment plan concerning the investment of the Fund’s assets and monitor its implementation, 

10. decide on the investment of the Fund’s assets in a profitable and secure manner in accordance with the principles laid down in the investment plan, 

11. appoint and dismiss the Fund Director and determine the terms and duties of their employment, 

12. elect from among its members a Chair and a Vice Chair at the first meeting of each year, 

13. establish working groups when necessary and appoint members to them to investigate and prepare specific matters related to the Fund’s operations; the working groups may also invite external expertise, 

14. supervise the maintenance of the membership register, 

15. convene the General Meeting of the Fund and prepare the matters to be addressed at the meeting,

16. provide the General Meeting with a written statement on any proposals submitted for consideration by the auditors or members of the Fund,

17. prepare the financial statements and annual report and submit proposals for the treatment of any surplus or deficit of the Fund,

18. submit the annual application concerning the Fund’s financing contributions to the Ministry of Social Affairs and Health as required by the Unemployment Funds Act, 

19. decide on the taking of loans as referred to in Section 18,

20. grant authorizations for signing on behalf of the Fund when necessary,

21. represent the Fund and exercise its right to speak before courts and other authorities, and 

22. decide on all other matters that are not otherwise assigned by law, regulation, or these rules.

14 § 

Working Committee and duties

The Chair of the Board, the Vice Chair, and two members of the Board constitute the Working Committee of the Board. At its first meeting of the year, the Board elects from among its members the two members of the Working Committee.

The Working Committee is chaired by the Chair of the Board or, if the Chair is prevented from acting, by the Vice Chair. The Working Committee shall meet at the invitation of the Chair or, if the Chair is prevented or disqualified, at the invitation of the Vice Chair.

The Working Committee has a quorum when, in addition to the Chair of the meeting, at least one member is present.

The term of office of the Working Committee is one year.

The duties of the Working Committee are to:

1. appoint and dismiss employees hired for permanent employment relationships, except for the Head of the Unemployment Fund, and determine their salaries and duties, 

2. decide on the principles governing employment relationships within the Fund, 

3. prepare matters to be addressed at meetings of the Board, and

4. perform any other duties assigned to it by the Board. 

The minutes of the Working Committee meeting must be recorded, and they must be reviewed no later than at the next meeting of the Working Committee.

15 § 

Head of Unemployment Fund and duties of the Head of the Unemployment Fund

The responsible officer of the Fund is the Head of the Unemployment Fund. The Head of the Unemployment Fund must meet the eligibility requirements laid down in the Unemployment Funds Act 

The duties of the Head of the Unemployment Fund are to:

1. to be responsible for the operational management of the Fund in accordance with the law, regulatory guidelines, the rules of the Fund, and the instructions issued by the Board,

2. to ensure that the Fund’s financial assets and accounting are managed responsibly and appropriately, 

3. to ensure that the financial statements and annual report for each financial year are submitted to the Board for review,

4. to direct and supervise the payment of benefits,

5. to prepare the matters to be addressed at the meetings of the Board and the Executive Committee, act as the presenting officer at these meetings, and implement the decisions made at the meetings,

6. to admit and remove members, 

7. to appoint and dismiss employees in fixed‑term employment relationships and determine their salaries and duties, 

8. to decide on granting employees temporary leave from their duties for periods such as family leave or other statutory leave, and

9. to carry out all other tasks assigned by the Board or required under the rules of the Fund.

16 § 

Signing for the fund

The right to sign the name of the Fund is held by the Chair of the Board, the Head of the Unemployment Fund, or any other person authorized by the Board.

However, debt obligations require the signatures of either the Chair of the Board or the Head of the Unemployment Fund together with one additional Board member.

Decisions of the unemployment fund may be signed electronically.

17 § 

Member communications

Information about the Fund’s operations and changes in legislation related to benefits is communicated to the members of the unemployment fund on the Fund’s website.

18 § 

Taking out loans

The Board of the Fund has the right to take temporary loans solely for the purpose of covering benefit expenditure when no funds are otherwise available for that purpose.

19 § 

Financial year and financial statements

Kassan tilikausi on kalenterivuosi. 

The financial year of the Fund is the calendar year.

The financial statements, which include the profit and loss account, balance sheet, notes to the financial statements, and the Board’s annual report, must be completed no later than the end of March.

The financial statements and related documents must be submitted to the auditors for inspection at least one month before the Fund Meeting. The auditors must provide a written audit report for each financial year to the Board at least two weeks before the Fund Meeting at which the approval of the financial statements is to be decided.

20 § 

Reserves

The unemployment fund’s reserve is an equalisation reserve. The annual surplus is transferred to the equalisation reserve. 

21 § 

Covering a deficit

If the Fund’s financial statements show a deficit, up to 50 percent of the equalization reserve may be used to cover it.

If the deficit cannot be covered in the manner described above, it shall be covered in accordance with the provisions of the law, using the funds of the Unemployment Funds Support Fund and an additional contribution granted from state funds.

IV LUKU Special provisions

22 § 

Supervision of the Fund

The supervisory authority of the Fund is the Financial Supervisory Authority 

23 § 

Amendments to the rules of the Fund

If the Unemployment Security Act, its decrees, the Unemployment Funds Act, or any other legislation within the scope of the Fund’s operations is amended, the Board of the Fund has the right to make corresponding amendments to these rules.

Any amendment to these rules in circumstances other than those referred to in paragraph 1, or the dissolution of the Fund in circumstances other than those referred to in section 10, paragraph 2, requires that the decision be made at a General Meeting of the Fund by a majority of at least two thirds (2/3) of the votes cast.

24 § 

Disposal of assets upon dissolution of the Fund

If the Fund has been decided to be dissolved or is terminated, the remaining assets, after all debts have been paid and all other obligations fulfilled, shall be transferred to the Employment Fund.

25 § 

Transitional provision

As of 1 January 2026, the Board of the Unemployment Fund Ote shall be the Board elected at the Ordinary General Meeting of the Education and Science Unemployment Fund on 20 May 2025. This Board shall convene an Extraordinary General Meeting of the Fund no later than the end of January 2026. At this meeting, the Board of the Unemployment Fund Ote shall be elected in accordance with these rules.

The term of the members elected at this meeting shall last until the Ordinary General Meeting of the Fund in 2029 at the latest. The first term may be a maximum of three (3) years and five (5) months. At the May 2027 meeting, one third (1/3) of the Board members shall retire; at the following year’s meeting, another one third (1/3); and in 2029, the remaining members.

The Working Committee shall be elected at the first meeting of the Board following the Extraordinary General Meeting held in January.

An information request can be submitted, for example::

• through personal online services in Otenetti
• by secure email (you may request a secure email from us
• by letter
• by any other written method addressed to the Fund

Contact Information

Postal address: Unemployment Fund Ote, Rautatieläisenkatu 6, 00520 Helsinki

Email: asiakaspalvelu@ote-kassa.fi

Information requests are directed to the Fund’s customer service, where they are registered for the purpose of deadline monitoring and forwarded to the appropriate responsible party.