TyEL contribution 2020
In 2020 the basic TyEL contribution is 25.30% of the employees’ wages and salary. Due to the coronavirus situation there is a temporary reduction of 2.6 percentage points in employers' pension insurance contributions. The reduction is in force 1.5.–31.12.2020, and will so affect salaries subject to TyEL paid between May and December 2020.
The reduction does not impact the size of the employees' share of the contribution, which is:
- 17-52 years of age: 7.15% of wages and salary
- 53-62 years of age: 8.65% of wages and salary
- 63-67 years of age: 7.15% of 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 the table (pdf) from the link below for social security contributions and limits in 2020.