Folkpension (National Old Age Pension)

Folkpension, also known as the National Old Age Pension, is a government-funded program designed to provide financial support to elderly individuals, ensuring they have a basic income during retirement. Typically aimed at those who may not have sufficient personal savings or pensions, it helps cover essential living expenses. The program is usually means-tested, meaning eligibility often depends on income and asset levels. By providing this safety net, Folkpsension aims to reduce poverty among the aging population and promote dignity and stability in their later years.