KOKO Unemployment Fund for Highly Educated Professionals

You can insure yourself against unemployment through the KOKO Fund. KOKO Fund pays earnings-related unemployment allowance if a member becomes unemployed, is laid off, or is placed on a reduced working week. Members who meet the fund’s membership and employment requirements are entitled to the allowance.

You can join the unemployment fund through the Economists’ membership app, eLounge.

Join KOKO Fund already during your studies

You can join the unemployment fund while still studying. As a fund member, you accumulate entitlement to earnings-related unemployment security whenever you work. This helps secure your income after graduation.

Under the new employment condition, eligibility for earnings-related unemployment allowance requires approximately one year of work while also being a member of the fund. The work does not need to be in the same employment relationship or carried out continuously. Summer jobs and part-time work during your studies are an excellent opportunity to accumulate qualifying work months.

Note! Due to a legislative change, both the old and the new membership and employment conditions apply from 2 September 2024 onwards. Read more about what constitutes employment that meets the employment condition and how your employment condition accumulates.

The earnings-related unemployment allowance paid by KOKO Fund is significantly higher than the unemployment benefit paid by Kela. If you become unemployed, the KOKO Fund membership fee quickly pays for itself.

You can join KOKO Fund during your studies if you are employed and receiving wages at the time of joining. Membership is obtained through the Economists’ membership app, eLounge. It is important to keep all employment contracts, payslips, and employment certificates.

Unemployment security for entrepreneurs

KOKO Fund is an unemployment fund for employees, whereas entrepreneurs can insure themselves through the Entrepreneur Fund. Review your fund membership options as soon as you start a business.

If you are employed and run a business as a side activity, it is advisable to remain a member of KOKO Fund. If you are a full-time entrepreneur, you may remain a member of KOKO Fund for a maximum of 18 months from the start of your business activities. After becoming a full-time entrepreneur, it is advisable to consider joining an entrepreneurs’ unemployment fund to ensure uninterrupted earnings-related security.