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Payment methods of TyEL insurance contributions

There are two ways to pay insurance contributions: immediate invoice and consolidated invoice. The payment methods have changed as of 1 January 2019.

Immediate invoice

We will send the insurance invoice immediately when we receive the payroll information. This is a good option if salaries are paid once a month.

In this example, the employer pays salaries and reports the payroll to the Incomes Register within five days of the payment of salaries. Varma sends an invoice as soon as the salary information is received from the Incomes Register. The due date for the invoice is calculated 21 days after the date of issue. The invoice is paid by the employer on the due date.

Consolidated invoice

We will send the insurance invoice once a month for payroll information reported during a one-month period. This is a good option if salaries are paid several times during one month.

In this example, the employer pays salaries several times a month. The employer reports the payroll to the Income Register within five days of each paycheck. Varma will send an invoice based on all previous month's salaries. The due date for the invoice is calculated 21 days after the date of issue. The invoice is paid by the employer on the due date.

Viewing and changing the payment method

You can view the payment method of your TyEL contributions by logging in to our eServices. You can change the payment method on the Address and billing information tab. We recommend selecting the payment method according to the number of times salaries are paid within a one-month period.

Switch to e-invoicing

You can easily receive your TyEL invoices in electronic format, when you submit your e-invoice address in our eServices.

Would you need some payment time for your invoices?

When necessary you can make a payment plan request in our eServices. Penalty interest (8%) will be added to late payments. There is a collection charge (40€) when we send a reminder invoice that is more than 400 euros.

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