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 61.37 euro per month in 2021,
- 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.
Would you like us to contact you?
Do you have questions about YEL or TyEL matters? Are you wondering when you should take insurance and what you should know about it? Let us help! Submit your contact information and let us know the best time to contact you.
You can also call us 020 703 5155. We are available weekdays 8 a.m.–3 p.m