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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Brexit and working abroad (etk.fi)
Current topics
Ilmarinen’s return on investments 3.2 per cent and efficiency improved further
The return on Ilmarinen’s investments in January–March was 3.2 per cent. The company’s cost-effectiveness improved further as premiums written grew and the operating expenses necessary for providing pension security fell. “We have successfully continued implementing Ilmarinen’s strategy and improved our productivity significantly over the past six years,” says Ilmarinen’s CEO Jouko Pölönen.
Coming this year: electronic YEL invoices to be sent automatically
In future, we will be sending electronic YEL invoices automatically if the payer of the invoice is a company that receives online invoices.
Employer, you can see the client bonuses online
We have calculated the final client bonuses reducing the TyEL contribution and they are available in the online service as of March 5th. Our further improved cost-effectiveness is directly reflected in smaller pension contributions for our employer customers.