Client bonuses

We have been paying the highest client bonuses every year since as far back as 2007. We are well-positioned to pay the best client bonuses also going forward, because we are the most solvent and efficient pension company.

It pays to be a long-term customer of Varma. The longer an insurance policy is valid at Varma and the more salaries that are paid, the higher your client bonus will be.

Client bonuses lower your insurance contributions. The bonuses are paid once a year, in spring. All customers who take out a TyEL insurance policy with Varma will benefit from the largest client bonuses right from the start of the customer relationship.

There will be a temporary reduction of 2.6 percentage points in employers' pension insurance contributions for the year 2020. The reduction is in force 1.5.–31.12.2020, and will so affect salaries subject to TyEL paid between May and December 2020.

Pension insurance companies cannot pay out client bonuses from the period when the reduction is in force. The client bonus that will be paid out in the spring of 2021, and that reduces the insurance contribution of 2021, will therefore be one third of the normal amount. The client bonus from the year 2020 reduces insurance contribution of 2021. The amount of client bonus will be lower regardless of how long your insurance has been in force in 2020.

According to the current information, client bonuses from 2021 will be paid normally in the spring of 2022. If there will be changes or reliefs in pension insurance companies' solvency regulations later, client bonuses cannot be paid out in that respect.

When you compare client bonuses, it is important to know how the comparison was made and what assumptions were used in the calculation. Comparison calculations may differ considerably from each other depending on the assumptions used, such as the development of payroll or solvency.

When comparing client bonuses, the average bonus level for a specific year or the average bonuses for a specific period of time can be used.

• Measured using the average bonus level, Varma is the best payer of client bonuses again in 2020. Varma distributes EUR 171 million in client bonuses to its customers.
• In a comparison of client bonuses over a specific period of time, Varma has paid the highest bonuses from 1999 through to 2020.

You can read more about client bonuses in the blog by Varma’s actuary Jarno Ruokokoski (in Finnish only).

What do your client bonuses amount to? You can see the amount easily in our eServices, under the tab ‘TyEL contributions and estimates’.

Client bonuses are paid once a year, in spring. They are usually allocated to upcoming invoices, but we can also deposit the client bonus into the company’s bank account. Make your choice in the ‘Address and billing information’ tab.

1. The largest client bonuses, i.e. the lowest TyEL insurance contributions
2. Excellent work-ability management services
3. You can take care of your insurance matters quickly and easily in our eServices.
4. Surveys show we have the best customer service. With us, your matter is always handled by an expert.
5. Free customer events, training and webinars (in Finnish)
6. We are a responsible company and investor

If you are not already a customer of Varma, join the large group of satisfied customers and recipients of the best client bonuses!

When you transfer your TyEL insurance policy to Varma, we will pay the first client bonus in spring following the year of the transfer. You benefit from the best client bonuses as soon as you become our customer.

In addition, your previous pension insurance company may pay you client bonuses based on a transferred policy after the policy is transferred.

Varma’s core task is to secure pensions. Our objectives are to:

• Take care of our customers’ pension cover with a high standard of quality
• Secure pensions through strong solvency
• Operate efficiently

Sustainability is a part of all our operations. We place great importance on:

• Mitigating climate change
• Promoting work ability and a good working life
• Ethical business and open communication