TyEL contributions and certificates
As an employer, you take care of employees’ pension security by paying TyEL contributions to the employment pension company. The TyEL contribution is determined in the same way in all pension insurance companies according to the criteria ratified by the Ministry of Social Affairs and Health and is a specific percentage of the employee’s gross earnings.
TyEL contribution for 2023
For a contract employer the TyEL basic contribution for 2023 is 25.30 % of the TyEL payroll. As of 1 January 2023 Elo’s basic expense loading fee is added to the TyEL basic contribution. The insurance contribution is reduced by a possible client bonus and Elo’s discounts. The TyEL contribution is calculated from the payroll data reported to the Incomes Register. The employment pension company invoices the whole contribution from the employer, who in turn will deduct the employee share of the contribution from each employee’s wages or salary.
In 2023, the employee’s share of the contribution is:
• 7.15 % for those under 53 years of age,
• 8.65 % for those aged 53–62 years and
• 7.15 % for those who have turned 63.
If your company’s payroll sum was over EUR 2,197,500 in 2021, you are considered a large-scale employer.
For an occasional employer the contribution is 26.20 %.
Read more about the social security contributions for 2023 >
Do you need an estimation for 2023 TyEL contribution?
You cand find the contribution estimation in our Online Service. Elo’s TyEL-contribution estimation gives you an estimation for the total TyEL-contribution for the year 2023 as well as estimations for next year’s TyEL-contribution percentage, employees’ contribution share, client bonus and Elo’s expense loading fee together with the possible discounts.
Log in to Online Service and check out the contribution estimation >