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.
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.
In our online service, under Account statement, you can see the amount of the refund and how the refunds have been targeted. You will be able to see this online from March 9th.
At the same time, you can let us know your bank account number for any insurance contribution refunds.
The customer credits returned this year will be calculated according to the new model. The client bonuses are based solely on the solvency of the earnings-related pension company. Ilmarinen's strong solvency is a result of long-term investment activities and good investment returns.
Read more about the client bonus
We use the Suomi.fi e-Identification service in our online service.
Read more about the Suomi.fi e-Authorizations
Pricing of expense loading changed at the start of 2023
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 cost-effectiveness improved further in 2023, as premiums written grew 4 per cent and operating expenses financed using loading income fell 5 per cent. Our customers benefit directly from the improvement in our efficiency: we lowered the administrative cost component included in Ilmarinen’s earnings-related pension insurance contribution by 20 per cent as of the start of 2024.
Based on the excellent loading profit and solvency, Ilmarinen will refund EUR 123.5 million in client bonuses to its customers this year.
The expense loading is now company-specific and always up-to-date. Each pension company only charges the necessary amount of the expense loading, and there is no systematic surplus. This means that there will be no surprises in store and no more need for annual adjustments.
Ilmarinen’s administrative cost will decrease 20% in 2024
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.
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Current topics
Agreement reached on YEL reform – a proposed freedom of choice model for pension contributions
The Ministry of Social Affairs and Health has released a draft government proposal to reform the Self-Employed Persons’ Pensions Act (YEL). Under the proposed reform, your pension contributions and benefits would be based on either your taxable earned income from your most recent completed tax assessment, or a confirmed income (as today) based on an overall assessment of your work input.
Ilmarinen and OP Pohjola: EUR 300 million to boost growth and investments in Finnish SMEs
Ilmarinen and OP Pohjola are launching a EUR 300 million growth financing programme to help growth companies succeed. Financing channelled to SMEs through this cooperation will create opportunities for growth and boost positive economic development across Finland.
Ilmarinen’s early 2026: Customer acquisition at record level, solvency remained strong
Ilmarinen’s return on investment in January–March was –0.5 per cent. Solvency is strong and cost-effectiveness is at a good level. Customer acquisition in the early part of the year was going at record pace.