Agreement between the EU and the UK – impacts on social security yet to be specified
Negotiations on the future relationship have been concluded between the European Commission and the United Kingdom. The agreement was signed 30 December 2020.
The agreement is applied temporarily from 1 January 2021. The agreement will be eventually in force when the European Parliament gives its approvement and it is approved by The Council of the EU.
The regulations of social security included in the agreement are similar to the EU social security regulations.
- Main principle is that a person belongs to the social security of only one country at a time.
- Main rule is that the person is insured by the legislation of the working country, exceptions are posted workers and self-employed persons, and persons who work in two or several countries.
- Regulations of pension, such as payments and application are similar to the EU regulations for social security.
Finnish Centre for Pensions will publish directives of the regulations in the beginning of the year.
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Important to know at the turn of the year pensioner
You can see the amount of your pension for the coming year, the payment dates and information on the amount of tax withholding from the MyPension service on our website at the beginning of December. We will approach our pensioners towards the end of the year via SMS and e-mail, reminding them to view the information online.
Earnings-related pension insurance contributions for 2026 confirmed
The Ministry for Social Affairs and Health has confirmed the earnings-related pension insurance contributions for 2026. The average contribution for employer’s pension insurance (TyEL) is 24.4 per cent of the payroll in 2026.
The increased pension contribution and the higher accrual rate for employees aged 53–62 will be eliminated in 2026. From the beginning of the year, the contribution will be the same for employees of all ages: 7.30 per cent of the wage, regardless of age.