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TyEL insurance provides cover for your employees

With statutory TyEL insurance you ensure pension cover for your employees. Both companies and private persons must insure their employees.

As an employer, it is your responsibility to take out the insurance and to report your employees' earnings to the Incomes Register. Take out TyEL insurance before submitting the earnings information to the Incomes Register, because you will need the pension policy number, when you submit the notification.

Do you need to take out TyEL insurance?

Your employee is insured under TyEL, if

  • the work is performed under an employment contract,
  • the employee is 17 years or older and
  • the monthly salary paid for the work is at least EUR 61.37.

The upper age limit for TyEL insurance depends on the employee's birth year:

  • for those born in 1957 or earlier it is 68 years,
  • for those born in 1958-1961 it is 69 years and
  • for those born in 1962 or later it is 70 years.

TyEL insurance is taken out at the beginning of the calendar month following your employee's 17th birthday. A person who works while drawing an old-age pension must also be insured.

The nationality of the employee has no bearing: work performed in Finland is usually insured in Finland regardless of the employer's or employee's nationality. Read more about international work and pension cover here.

Temporary employer

Sometimes work takes only a short time.  You can act as a temporary employer, if

  • you don't employ regular staff and
  • salaries are less than EUR 8,790.00 within 6 months.

Report the payroll information to the Incomes Register. You can easily make notifications using the free-of-charge Palkka.fi service (in Finnish and Swedish only) or a commercial payroll service such as Palkkaus.fi (in Finnish only).

  • If you use the Palkka.fi service, choose "Varma" as insurance company on the dropdown-list on the online form. The system will generate Varma's company ID and pension insurance number.
  • If you use the technical interface or the upload service of the Incomes Register, remember to provide Varma's company ID "55" and as pension insurance number "55-3999990D".

Other insurances

When you pay more than EUR 1,300.00 in wages or salaries during a calendar year, you must take out statutory workers’ compensation insurance and unemployment insurance. 

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