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Article 28.4.2022

Finnish pension system in a nutshell

Finland has one of the best pension systems in the world - and that’s a fact. But if you’re starting a business in Finland, you might be wondering why it’s mandatory for entrepreneurs to take out pension insurance. Or for employers to get pension insurance for their employees? We are here to help you!

Finnish pension system in a nutshell
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  1. Ilmarinen expands its climate targets
    Ilmarinen sets climate targets on two new asset classes: corporate bonds and foreign real estate. Plans are already in place for direct listed equity investments and Finnish real estate.
    Ilmarinen expands its climate targets
  2. We are participating in the power system support procedure
    The transmission system operator Fingrid developed a voluntary power system support procedure. Ilmarinen is taking part. If the procedure is activated, it may have a momentary impact on properties’ conditions.
    We are participating in the power system support procedure
  3. YEL reform enters into force at the start of next year
    The Self-Employed Persons’ Pensions Act will change at the start of the year: YEL income will be determined in more detail and adjusted more often. “Self-employed persons deserve the same level of pension and social security as employees. The reform will help achieve this,” says Minna Hakkarainen, Ilmarinen’s Director, Insurance Services.
    YEL reform enters into force at the start of next year
  4. Most frequently asked questions on the YEL reform
    What questions are self-employed persons asking about the Self-Employed Persons’ Pensions Act (YEL) reform? We assembled all of the questions most frequently asked by self-employed persons. The expert for the article is Ilmarinen’s Director, Insurance Services, Minna Hakkarainen.
    Most frequently asked questions on the YEL reform
  5. YEL in 2023 – Six things for entrepreneurs to remember
    Year 2023 is fast approaching. Below you’ll find six things every entrepreneur needs to know about their YEL insurance at the turn of the year.
    YEL in 2023 – Six things for entrepreneurs to remember
  6. Earnings-related pension insurance contributions for 2023 confirmed
    The Ministry for Social Affairs and Health has confirmed the earnings-related pension insurance contributions for 2023. The average contribution for employer’s pension insurance (TyEL) is 24.84 per cent of the payroll in 2023.
    Earnings-related pension insurance contributions for 2023 confirmed
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