Elo is part of the publicly supervised earnings-related pension system

Earnings-related pension insurance is statutory. That means that the obligation to insure, insuring, pension benefits and the right to benefits are prescribed by law and other regulations.

The insuring and earnings-related pension benefits of employees are stipulated in the Employees Pensions Act (TyEL). In addition, provisions concerning insuring are included, in particular, in the insurance terms and conditions of basic insurance policies under the Employees Pensions Act which are confirmed by the Ministry of Social Affairs and Health.

Correspondingly, the insuring and earnings-related pension benefits of self-employed persons are stipulated in the Self-employed Persons’ Pensions Act (YEL) and in the insurance terms and conditions of basic insurance policies under the Self-employed Persons’ Pensions Act.

Information on the application of the above-mentioned provisions is available, for example, from the online employment pension law service of the Finnish Centre for Pensions.

Employment pension law service of the Finnish Centre for Pensions (in Finnish) >