Folkpension

Folk pension is a government-funded social security program that provides financial support to elderly individuals, ensuring a basic income after retirement. It is designed to help reduce poverty among seniors by offering regular payments, regardless of their previous employment history or income level. The system is typically financed through contributions from workers and employers during active employment, and benefits are distributed based on established eligibility criteria. Folk pension aims to promote social security, dignity, and economic stability for the aging population.