Excellent client bonuses in store for employers – check the amount in the service for employers
We have calculated the final client bonuses reducing the TyEL contribution and they are available in the service for employers as of 3 March. Our record-high cost-effectiveness is directly reflected in smaller pension contributions for our employer customers.
As a rule, the discounts in contributions will be taken into account in future TyEL invoices starting in March. If you have overdue unpaid invoices, the client bonuses will first be allocated to these.
As of March, you can also check online where the client bonuses have been allocated. To see the allocations and amount of client bonus, open the statement in the service for employers.
At the same time, you can let us know your bank account number for any insurance contribution refunds.
Pricing of expense loading changed at the start of the year
The client bonuses being paid now are still based on the old model as they apply to insurance contributions for 2022. The client bonuses you will receive now are thus based on the efficiency of our operations and solvency last year.
As of the start of 2023, the expense loading in earnings-related pension contributions is determined for each company. Expense loading is the part of the pension contribution that is used to cover the pension company’s operations; in other words, the costs arising from managing insurance policies and pensions. Ilmarinen’s record-high cost-effectiveness means that the pension contributions of our employer customers are less expensive with regard to the expense loading. The change means that the discount for large employers will end and it will be included directly in the expense loading.
Based on the excellent loading profit and solvency, Ilmarinen will refund EUR 175 million in client bonuses to its customers this year.
The expense loading is now company-specific and always up-to-date. This means that there will be no surprises in store and no more need for annual adjustments.
The change means that the earnings-related pension contribution’s administrative cost component will be reduced and the loading profit will fall.
Client bonuses EUR million and in relation to payroll
In 2020, employment pension insurance companies refrained from paying client bonuses to customer companies for the period in which the employers’ contribution was reduced. Therefore, the client bonus for 2020 was only a third of a normal year’s client bonus.
Changes to client bonuses in 2024
The client bonuses to be refunded to customers next year will be calculated according to the new model. Going forward, client bonuses will be based solely on the pension insurance company’s solvency. Ilmarinen’s strong solvency is the result of long-term investment operations and good investment returns.
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Current topics
Employer, self-employed person or pensioner: 2027 earnings-related pension index and wage coefficient confirmed
The Ministry of Social Affairs and Health has confirmed the pension indices for 2027. The earnings-related pension index will be 3,184, which means pensions will increase by approximately 2.6% at the turn of the year. The wage coefficient has been confirmed at 1.773, an increase of approximately 3.6% from 2026.
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