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News and articles

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!

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  1. News 12.4.2024
    Coming this year: electronic YEL invoices to be sent automatically
    In future, we will be sending electronic YEL invoices automatically if the payer of the invoice is a company that receives online invoices.
  2. News 22.11.2023
    YEL in 2024 – what will change?
    YEL insurance is the most important insurance for you as an entrepreneur, as it is the basis for your pension and social security. Keep reading to see what you should know about your YEL insurance as the year changes.
  3. News 9.11.2023
    Earnings-related pension insurance contributions for 2024 confirmed
    The Ministry for Social Affairs and Health has confirmed the earnings-related pension insurance contributions for 2024. The average contribution for employer’s pension insurance (TyEL) is 24.81 per cent of the payroll in 2024.
  4. News 27.10.2023
    Employer, self-employed person, pensioner – 2024 earnings-related pension index and wage coefficient confirmed
    The Ministry for Social Affairs and Health has confirmed the indices for earnings-related pension insurance for 2024. Next year, the earnings-related pension index is 3037, which means an approximately 5.7 per cent increase on pensions at the start of the year. The confirmed wage coefficient is 1.637. Compared to 2023, the wage coefficient will rise some 5.1 per cent.
  5. News 20.6.2023
    Self-employed person, did you get a YEL income recommendation from us?
    We will be sending out new YEL income recommendations for the first group of our self-employed customers in June. What’s it all about?
  6. News 9.3.2023
    YEL income reviews will start this summer
    The YEL reform entered into force in the beginning of the year. Pension companies are now obligated to check entrepreneurs' YEL incomes at steady intervals. We will start the reviews this summer – here’s what you need to know about it.
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