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You may pay the TyEL contributions in accordance with the estimated provisional payroll or monthly earnings notifications.
The basic TyEL contribution is 25.30% of the employees’ wages and salary.
You withhold the employee's pension contribution from the employee's salary and pay the entire earnings-related pension contribution to the pension insurance company.
See how the instalment months and the premium interest rate affect the amount of the contribution.
|Installments||Total contribution||Average monthly installment|
Change the due months of TyEL or YEL contributions, please call +358 10 192 102.
The premium interest rate is a fixed part of the TyEL contribution used to bring the contribution from the theoretical due date of 1 July to the interest date in the calculation. The interest has influence on the payments, in the beginning of the year by reducing and in the end of the year by increasing payments due.
The premium interest rate is based on the 12-month TyEL benchmark rate quoted by Garantia, but it is always at least 2 per cent.
Since the level of the insurance contribution interest rate is lower than the level of the technical rate of interest, the interest rate benefit from focusing the provisional contributions on the first half of the year.
The premium interest rate used in this calculator is 2 per cent.
The basic TyEL contribution for 2018 is 25.30%. The due date for provisional contributions is the 20th day of each month.
With the monthly notification method, your contributions are based on actual payroll and are therefore always up-to-date. You report the actual payroll information to us electronically by the 20th day of the month following the payment of salaries or wages.
With the annual notification method, your contributions are based on a provisional payroll, and you may choose the due months that suit you.You can adjust the provisional payroll through our eServices. You must report the actual payroll information at least once a year using the annual notification by the end of January.
The final contribution is calculated annually in the spring of the following year, once we have received the actual earnings information on all employees.
If the provisional contributions are lower than the final contribution, the difference will be charged from the employer as an adjustment contribution. If the provisional contributions exceed the final contribution, the amount to be credited will be used for future contributions or unpaid contributions.
For further information see the TyEL annual calculation guide (pdf).
The premium interest rate is a fixed part of the TyEL contribution used to bring the contribution from the theoretical due date of 1 July to the the interest date in the calculation. The interest has influence on the payments, in the beginning of the year by reducing and in the end of the year by increasing payments due.
The premium interest rate is based on the 12-month TyEL benchmark rate quoted by Garantia, but it is always at least 2 percent.
Check the most suitable due months for you with our due-month calculation tool.
Varma is the most solvent earnings-related pension company in Finland. At the moment, Varma is financially the strongest it has ever been. What does that mean for our customers? In addition to lower insurance contributions, our large and smaller client companies alike have benefited for years from the best client bonuses in the sector.
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