TyEL contribution 2023
In 2023, the basic TyEL contribution is 25.30% of the employees' wages and an administrative cost component, specific to each earnings-related pension insurance company, is added to it.
Part of the TyEL contribution is paid by the employee. Withhold the employee’s contribution from their wages. The employee’s contribution is:
- 7.15% of the wages for people aged 17–52
- 8.65% of the wages for people aged 53–62
- 7.15% of the wages for people who have turned 63
The employee must pay an increased contribution from the beginning of the calendar month following the year in which the employee turns 53 to the end of the calendar month in which he or she turns 63.
You can find your company's TyEL contribution rate in Varma Online Service: Insurance policies > Estimates and reports > Make a new estimate.
Changes to determination of TyEL contributions as of 1 January 2023
New pension company-specific differences will be introduced for TyEL contributions from the beginning of 2023. Read more on the subject in our news: