Newborn investment proposal wins support, but Kela objects

A government proposal to give newborns an initial investment has received support during a consultation process, Yle reports.

Financial sector organisations said the model should be competitively neutral, easy for guardians to use and encourage additional saving.

The government programme proposal would give each newborn an initial investment that would grow until the child reaches adulthood. The article’s image caption puts the amount at 200 euros, while the initiative described in the text specifies 300 euros.

The Social Insurance Institution of Finland, Kela, would receive additional responsibilities under the proposal. However, it said in its statement that expanding the agency’s duties to include managing investment activities would not be appropriate.