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When do you need TyEL insurance?

When you, as an employer, hire an employee into a contractual employment relationship, you assume the obligation to insure that individual under a statutory TyEL insurance policy. TyEL insurance guarantees pension security for each employee.

Take the TyEL insurance no later than the end of the month following the employee's first salary payment month.

An employer can be a company, an organisation or a household.

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,
  • earns at least 59.36 euro per month (in 2019),
  • is working while receiving pension.

An employee must be insured from the start of the month following the date on which he/she turns 17. The obligation to insure continues to the end of the month in which the employee turns 68. The obligation to insure also applies to any work done alongside pension.

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Are you a contract employer or an occasional employer?

You can ensure the pension security for your employee(s) either by taking the TyEL insurance for contract employers or by making notifications as an occasional employer.

Take the TyEL insurance for contract employers if

  • the employment relationship of at least one employee is permanent,
  • you pay salaries/wages regularly, or
  • the estimated total 6-month payroll for your employees is a minimum of 8,676 euro in 2020.

A household can also be a contract employer. A contract employer shall also include any temporary employments in the TyEL insurance policy.

You are an occasional employer if

  • you only hire an employee temporarily or occasionally,
  • the total 6-month payroll for your employees is less than 8,676 euro in 2020, and
  • you or your company do not have a valid TyEL insurance policy.

An occasional employer can be a company, an organisation or a household. 

Please note that you cannot simultaneously be both a contract employer and an occasional employer. If you are a contract employer, you must also include any temporary employees in the TyEL insurance policy. Occasional employers must report any paid wages immediately upon payment.

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Positions of trust can be insured under voluntary TyEL insurance

Positions of trust are not statutorily required to be insured under TyEL, but the employer can voluntarily take a TyEL policy for those in positions of trust.

Positions of trust include, for example

  • positions of trust in labour market organisations and ideological organisations
  • memberships on supervisory boards, consultative committees and executive boards.

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Other statutory insurances for employers

In addition to TyEL insurance, employers need the following statutory insurance policies to cover their employees:

  • occupational accident and disease insurance
  • group life insurance
  • unemployment insurance

Occupational accident and disease insurance, and group life insurance are available through our insurance partners:

Unemployment insurance is available from the Unemployment Insurance Fund >

As an employer, you will be responsible for paying your employees’ health insurance payments to the tax authorities.

Elo is here to help and support you

Elo's Online Service is always available for you to use whenever it's most convenient for you. For TyEL and YEL insurance matters, please call us at +358 (0)20 694 730 (weekdays 8 a.m.-4:30 p.m)