How much does TyEL insurance cost?
The basic TyEL contribution in 2019 is 25.20 % of the employees’ wages and salary. Employees under 53 years or over 62 years of age contribute 6.75 % of their pay. For employees aged 53-62 years, the share is 8.25 %. As an employer, 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.
The final contribution for 2018 is calculated in the spring of 2019, once we have received the earnings information on all employees.
Varma is very sound financially and is the most solvent earnings-related pension company in Finland. That is why we are able to pay the best client bonuses in the sector. For you, that means paying lower insurance contributions.