Employer’s pension insurance i.e. TyEL
As an employer, you need to take out earnings-related pension insurance if you employ at least one person on a permanent basis and pay at least EUR 8,790 in wages or salaries during a period of six months ( 8,676 in 2020). If you are a temporary employer, you only have to pay the earnings-related pension contribution.
TyEL insurance provides pension security for your employees
When you hire an employee, take out TyEL insurance and report the earnings data to the Incomes Register regardless of whether you are a long-term or temporary employer. Household employers also need to provide pension insurance for their employees. With TyEL insurance you take care of your employees’ pension cover. That is why TyEL insurance is statutory, i.e. mandatory.
When does an employee need to be insured?
Take out TyEL insurance, when your employee meets the following three conditions
- he or she is in an employment relationship,
- he or she is aged between 17–67 and
- you pay him or her at least EUR 61.37 per month (60.57 in 2020).
How much does TYEL insurance cost?
The TyEL contribution is determined based on the earnings payment reports made to the Incomes Register. The TyEL contribution is a percentage of the salaries and wages that you pay to your employees as an employer. The client bonus reduces your insurance contribution. It is based on Ilmarinen’s solvency and the efficiency of our operations. You receive the client bonus when your TyEL insurance is in force with Ilmarinen and you are a so-called contract employer. The employer does not pay the TyEL contribution alone; employees also pay their share of it.
Contract employer or temporary employer?
In pension matters, employers are always either contract employers or temporary employers. You can also be a household employer if you hire, for example, a cleaner, an au pair or another employee to work at your home.Find out whether you are a contract employer or a temporary employer
Employer’s social security contributions
As an employer, you are in charge of your employees’ pension cover and other social security.Read more about an employer’s social security contributions
Insuring work abroad
Are you posting an employee to work abroad? Or is an employee coming from abroad to work in your company? Make sure that your employee’s pension cover is taken care of.Read more about insuring work abroad
Changes on entrepreneurial activities
When your company’s business operations or legal form change, your TyEL and YEL insurance may also change.Read more about the impact of changes in business operations on TyEL insurance
Check how much TyEL insurance costs or how much hiring an employee costs, including the employer’s costs.Go to the employer’s calculators
Retirement of an employee
What does an employer need to know when an employee wishes to retire? Learn about the different types of pension.Read more about the retirement of an employee
TyEL certificate and invoice copies
You can download the TyEL certificate and invoice copies conveniently in our online service.Read more about the TyEL certificate and invoice copies
Being Ilmarinen’s customer pays off
When taking out earnings-related pension insurance, choose a partner who is a pleasure to deal with and who provides you what you need. We pay the largest client bonuses, which means lower insurance contributions for our customers. That is why choosing Ilmarinen as an insurance partner pays off.Employer, become Ilmarinen’s customer