Flexibility in YEL and TyEL payments due to the corona situation

25.3.2020
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Uutinen
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The Ministry of Social Affairs and Health has confirmed an exceptional provision to the terms of TyEL and YEL insurance policies that allows for flexibility in payments. The exception applies to invoices that are due between 20 March 2020 and 30 June 2020. These invoices may be afforded a three-month extension.

You can find the terms and conditions of the insurance contracts here:

the Employees Pensions Act (TyEL)
the Self-employed Persons’ Pensions Act (YEL)

The following arrangements concerning the insurance contributions are in effect at Ilmarinen. 

CHANGES TO YEL INSURANCE CONTRIBUTIONS

We have postponed the due dates of your YEL payments by three months. Changes take effect automatically—you don't need to do anything. You may still pay the invoice on the original due date. You don’t need to notify us, if you choose to do so.  

The new due dates of YEL invoices

• Invoices due on 20 March 2020: the new due date is 22 June 2020. We will not send you a new invoice. You can make your YEL payment on the new due date using the information provided on the current invoice.

• Invoices due on 20 April 2020: the new due date is 20 July 2020. We will not send you a new invoice. You can make your YEL payment on the new due date using the information provided on the current invoice.

• Invoices due on 20 May 2020: the new due date is 20 August 2020. We will send you an invoice in late April.

• Invoices due on 22 June 2020: the new due date is 21 September 2020. We will send you an invoice in late May.

We will charge an insurance contribution interest of 2% for the time between the original and the new due date. This interest will be added to upcoming invoices.

You may also choose to pay the invoice before the new due date without notice. In this case, the insurance contribution interest will only be charged for the time between the original due date and the date of payment.

We recommend that you use our online service, as our telephone service is currently receiving a large amount of corona-related inquiries.

CHANGES TO TYEL INSURANCE CONTRIBUTIONS

You may postpone the due dates of the TyEL invoices that are due between 20 March 2020 and 30 June 2020 (concerning the salaries paid out between February and May).

The new due date can fall within five months after the salaries were paid out. For example, if the insurance contribution for the salaries paid in March is due on 30 April 2020, you can postpone the due date up to 30 August 2020. An insurance contribution interest of 2% is added after the end of the month following the month in which the salaries were paid out.

Change the due date online

You can change the due date of your TyEL invoice in our online service. This also applies to your outstanding invoice for March. We hope you make the changes as soon as possible.

If you do not have an account for our online service, please apply for one by filling out Ilmarinen's online service agreement. You can return the form online on this page by using the send attachment function, or via mail to Keskinäinen Eläkevakuutusyhtiö Ilmarinen, PL 2, 00018 Ilmarinen.

We recommend that you use our online service, as our telephone service is currently receiving a large amount of corona-related inquiries.

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