TyEL insurance

Employers are required to take out TyEL insurance for their employees.

  • Employer's pension insurance, or TyEL insurance, is a statutory insurance
  • It is the employer's responsibility to take out TyEL insurance and declare employees' wages to the Incomes Register
  • Varma's TyEL insurance is among the most affordable ones in the industry, as we are the most solvent and highly efficient earnings-related pension company

When do I need TyEL insurance?

An employer needs TyEL insurance when

  • they have at least one employee working under an employment contract,
  • the employee is at least 17 years old, and
  • the monthly salary paid for the work is at least EUR 68.57 in 2024.

You also need TyEL insurance if you are a private person who employs, for example, a childminder, renovator, cleaner or gardener.

The lower age limit for TyEL insurance is 17 years. The TyEL insurance upper age limit depends on the employee’s year of birth:

  • 68 years for those born in 1957 or earlier,
  • 69 years for those born in 1958–1961, and
  • 70 years for those born in 1962 or later

Take out TyEL insurance

Impact of company form on pension insurance: YEL or TyEL?

Different rules apply to the different company forms as to which pension law a self-employed person or a self-employed person's family member is insured under. Sometimes, for example, a family member working for the company needs his or her own YEL insurance. This depends on the company form and the family member's work and position in the company.

Learn about the impact of company form

Temporary employer

If you or your company do not have permanent employees and you pay less than EUR 9,822 in wages over a period of six months (in 2024), you qualify as a temporary employer. In this case, you do not have to sign a TyEL insurance contract with an earnings-related pension company. You must, however, report the payroll information to the Incomes Register and pay the TyEL insurance contributions normally.

Read more about being a temporary employer

What are TyEL insurance contributions are based on?

The TyEL insurance contribution is based on the wages you pay to your employees. In 2024, the basic TyEL contribution is 25.12% of employees' wages and an administrative cost component, specific to each earnings-related pension insurance company, is added to it. You can calculate the amount of your TyEL contribution with our TyEL calculator.

Each employee also participates in the costs of the TyEL insurance. As the employer, you withhold the employee’s contribution from their wages. The employee’s contribution of the TyEL insurance is:

  • 7.15% of the wages for those aged 17–52
  • 8.65% of the wages for those aged 53–62
  • 7.15% of the wages for those who have turned 63

Varma receives the required earnings data from the Incomes Register. We calculate the TyEL insurance contribution based on the earnings data reported to the Incomes Register, based on which we then send an invoice. Read more about wages to be insured under TyEL and how to report them.

View your invoices and wages in Varma Online Service

TyEL insurance payment methods

The invoicing methods for the TyEL insurance contributions are the immediate invoice and the consolidated invoice. We recommend selecting the payment method according to how often you pay wages.

  • We will send the immediate invoice right away when we receive the earnings data from the Incomes Register. The due date of the invoice is 21 days from the invoicing date.
  • We will send the consolidated invoice once a month for earnings data reported during a one-month period.

Read more about TyEL insurance contributions

As Varma’s TyEL insurance customer, you receive valuable benefits and financial support

We can give a discount on TyEL insurance contributions in the form of client bonuses. We pay out client bonuses annually to our TyEL insurance customers, which reduces their TyEL insurance’s total costs. Varma is the most solvent pension insurance company, which means that we offer excellent client bonuses. You will get an affordable TyEL insurance from Varma.

Read more about client bonuses

We support you in navigating the twists and turns of your life and business, whether they concern a birth in the family, an illness or the need for flexible payment arrangements.

Varma gives you methods for improving work ability

We help you in your busy daily life to take care of your and your employees’ work ability.

We offer our customers the Varma Academy learning environment, which gives you tools for coping at work. Our digital services will help you, for example, to identify the most common work ability risks in your sector.

In addition, our work ability experts are at your disposal.

Read more about our services for work ability management

Five reasons to choose Varma’s TyEL insurance

1. Affordable TyEL insurance

Varma offers you affordable TyEL insurance as we are the most solvent earnings-related pension insurance company. This is why we are able to offer excellent discounts on TyEL contributions.

2. Easy-to-use online service

As Varma's customer, you will have access to the user-friendly Varma Online Service, which is always open. In one service, you can easily take care of matters related to TyEL insurance and payments as well as work ability management. You can manage your TyEL insurance matters on your smartphone, for example, when it suits you best. If you also have Varma's YEL insurance, you can take care of your YEL insurance matters in the same service.

3. Professional service

Our experts, awarded by our customers, will support you through the changing and unexpected twists and turns of your business. Our friendly customer service can be easily reached by phone, via chat, and in Varma Online Service.

4. Flexible payment arrangements

Varma has its own knowledgeable collection advisors who constantly receive positive feedback from our customers. If you ever find yourself in need of flexible payment arrangements, don't hesitate to contact us! Together we will find a solution for your situation.

5. Responsible operator

In Varma, your earnings-related pension contributions are under excellent management as our investment activities are profitable and secure. Varma is a pioneer in sustainability. You can rest assured that while we look after your and your employees' pension cover, we also take the environment, our employees, and future generations into consideration.

Help with using our services

Take care of your TyEL matters online

In our online service, you can, for instance

  • view your TyEL insurance invoices and invoice specifications
  • view earnings by employee
  • send us messages and attachments through a secure connection
  • calculate estimates of TyEL contributions