Client bonuses

Client bonuses lower your insurance contributions. They are paid out once a year in the spring. As of 2023, the amount to be distributed as client bonuses is based on the solvency of the earnings-related pension insurance company. Varma is the most solvent pension insurance company, so our client bonuses are excellent. All Varma's TyEL customers benefit from client bonuses right from the start.

Client bonuses lower your insurance contributions

The client bonus is an annual discount in insurance contributions. In 2023, we distributed EUR 173.8 million in client bonuses to our customers. Client bonuses are usually allocated as a discount on the next insurance contribution invoice. If you wish, we can also deposit the client bonus into your company’s bank account. You can easily see the amount of client bonuses in Varma Online Service.

All customers who have taken out a TyEL insurance policy with Varma benefit from client bonuses right from the start of their customer relationship. The longer an insurance policy is valid at Varma and the more wages are paid, the higher your client bonus will be. It pays to be a long-term customer of Varma.

View your client bonuses in Varma Online Service

The more solvent the pension insurance company, the better the client bonuses it can distribute

The total amount to be distributed as client bonuses is determined in the same way in all earnings-related pension insurance companies, according to the solvency of each company. The maximum annual distribution of client bonuses is 1% of the solvency capital. Varma is the most solvent earnings-related pension insurance company, so we pay out excellent client bonuses.

Each earnings-related pension insurance company has its own criteria for the distribution of bonuses, which have been approved by the Ministry of Social Affairs and Health on the application of the company. They determine how client bonuses are distributed among customers.

The customer's share of the total amount of client bonuses distributed by Varma is influenced by the total amount of wages insured by Varma and the fund accumulated from insurance contributions. The client bonuses to be paid in spring 2024 will be subject to the payroll of 2023 and the fund accumulated by the end of 2022. It pays to be a long-term customer of Varma.

Varma has been the most solvent pension insurance company in 2013–2019 and 2021-2022, while Ilmarinen was the most solvent in 2020. Otherwise, Ilmarinen has been the second or third most solvent, alternating with Veritas in 2013–2022. Elo has been the fourth most solvent throughout the period.
Strong solvency means lower pension contributions for our customers. Varma has paid out the best client bonuses for 16 years. As the most solvent earnings-related pension insurance company, we are in an excellent position to continue paying out the best client bonuses in the years to come.

How do I receive a client bonus when transferring TyEL insurance?

When you transfer your TyEL insurance policy to Varma, we will pay the first client bonus in the spring of the year following the transfer. The bonuses are based on the previous year's insured wages and the size of the fund. They are therefore paid by the company where your company was insured in the previous year.

TyEL insurance transferred at the start of the year

If you have transferred your TyEL insurance to Varma, e.g., on 1 January 2023, we will pay the first client bonus in spring 2024. In 2023, your previous pension insurance company paid the client bonus which was based on the insurance contributions from 2022.

In addition, your previous pension insurance company will pay you client bonuses based on a transferred policy for three years after the transfer. The condition for receiving the bonus based on a transferred policy is that at least EUR 50,000 in insurance contributions has accumulated in the fund by the end of the year preceding the year of termination.

TyEL insurance transferred mid-year

If you transfer your TyEL insurance to Varma mid-year, you will receive a client bonus for the year of the transfer from both Varma and your previous insurance company. In addition, the previous company will pay you bonuses for two years after the insurance was transferred. Your previous pension insurance company will pay client bonuses and bonuses based on a transferred policy only if at least EUR 50,000 in insurance contributions has accumulated in the fund by the end of the year preceding the year of the transfer.

Reliable comparison of client bonuses

Varma's client bonus percentage has been consistently higher than that of Ilmarinen, Elo and Veritas since 2012. Varma's client bonus percentage is the highest, Ilmarinen's second and Elo's third highest. Veritas' client bonus percentage is the lowest.

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. Varma has paid the highest bonuses from 2007 through to 2022.

How you can receive client bonuses from Varma

You will receive client bonuses from Varma every year after the completion of Varma's financial statement.

You can use your client bonuses to lower your next contribution invoices, or we can deposit them into your company's bank account.

As Varma's new customer, you will receive your first client bonuses in the spring of the year following the year in which your insurance comes into force.

Our strong solvency means higher client bonuses for you.

The amount of client bonuses distributed may vary from year to year.

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
Log in to Varma Online Service