Ilmarinen’s administrative cost will decrease in 2025
At the start of next year, Ilmarinen’s customers’ administrative cost will decrease by roughly 10 per cent. The administrative cost is part of the TyEL insurance contribution, and in that respect, your TyEL contribution as our customer will decrease.
Administrative cost for 2025 will be reduced on average by approximately 10 % compared to 2024.
The price of earnings-related pension insurance is influenced by the sector’s common TyEL contribution as well as, among other things, company-specific contribution. The cost effectiveness of Ilmarinen's operations continued to improve, and operating expenses financed using loading income have lowered. This means directly lower contributions for our customers.
Read about how the TyEL contribution is determined
Ilmarinen has reduced the annual costs of managing pension insurance by a third, or almost EUR 50 million, since 2018.
What is the administrative cost?
The administrative cost is the part of the pension contribution that is used to cover a pension company’s operating costs. It has a rather modest impact on the earnings-related pension contribution. For Ilmarinen’s customers in 2025, it will be no more than 0.18 per cent of the payroll. As of the start of 2023, the administrative cost has been determined on a company-specific basis.
Calculate an estimate of your contribution online
We will provide news and information about next year’s contributions during the autumn. The total contribution level for 2025 is not yet known. The Ministry of Social Affairs and Health will confirm the basic TyEL contribution by mid-November.
You can see an estimate of your insurance contribution rate in our online service.
Read more
Ilmarinen's return on investment 4.9 per cent
Read also
Earnings-related pension contributions and discounts
Large employer’s TyEL contribution
Current topics
YEL reform moves forward: more choice for self-employed persons on how contributions are determined
The proposal to amend the Self-employed Persons’ Pension Act (YEL) will now proceed to Parliament. After the reform, pension contributions and pension benefits would be based either on YEL income determined much as it is today or on actual earnings.
Disruptions in the online service over
The fault has now been fixed and the services are functioning normally.
Ilmarinen had a strong first half of the year. In January–June, the return on investments was 5.3 per cent, or EUR 3.5 billion. Solvency ratio improved, and customer acquisition was at a good level.