News 5.3.2024

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.

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We use the e-Identification service in our online service.

Read more about the 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

Asiakashyvitykset milj. euroa suhteessa palkkasummaan EN.JPG

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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Ilmarinen’s Financial Statements 2023: Return of investments was 5.8 per cent and cost-effectiveness improved further

We are introducing e-Identification for employers

Current topics

Press release 26.4.2024

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.

Ilmarinen’s return on investments 3.2 per cent and efficiency improved further

News 19.12.2023

We are introducing e-Identification for employers

We will start using e-Identification in the employer’s online service as of 19 December 2023. This means that, starting on that date, you will be able to log in to the service using your personal online banking codes or a mobile certificate. For that purpose, you will need either a register role or a mandate granted in e-Authorizations.

We are introducing e-Identification for employers
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