Information about TyEL insurance
When you hire an employee into an employment relationship, you are required to take TyEL insurance in order to ensure the pension security of that employee. Take the insurance no later than the end of the month following the employee's first salary payment month.
Insurable employment relationships
An employee must be insured under TyEL insurance if the employee:
- is employed within a contractual employment relationship,
- is between the ages of 17–68, and
- earns at least 61.37 euro per month
Retirement of an employee
When your employee is approaching retirement, make sure to come to an agreement, well in advance, on the date for the termination of the employment relationship and the initiation of pension.