TyEL insurance contributions as of 1 January 2019
From the start of 2019, Elo will retrieve the relevant earnings information from the Incomes Register and the TyEL insurance contribution will be calculated on the basis of the payroll reports and related corrections as submitted to the Incomes Register.
The amount of the TyEL insurance contribution will continue to be determined by the percentage confirmed annually by the Ministry of Social Affairs and Health.
- All contribution payments will be up to date and, therefore, there will no longer be a need to calculate a final contribution at the end of the year.
- You will continue to receive Elo’s client bonuses once per year and they will be taken into account in your future contribution payments.
- Any possible impact of the premium category and premium loss discount will be taken into account in the calculation of the contribution.
Invoice due dates
The due date on the invoices for TyEL insurance contributions is the last day of the month following the salary payment month.
In Elo’s Online Service, you can see your invoices and information about the TyEL insurance contributions and you can, if necessary, request a payment extension for a specific invoice. Read more about Elo’s Online Service >