TyEL payments 2021

The TyEL basic contribution rate for 2021 is 24.80 % of the paid wages/salaries.

As an employer, you ensure the pension security of your employee(s) by paying the required TyEL contributions to a pension provider. The amount of the contributions is always determined in accordance with the calculation bases confirmed annually by the Ministry of Social Affairs and Health and is a designated percentage of the employee’s gross earnings.

The contribution percentage also includes the employee’s share of the contribution, which you will withhold from the salary or wages paid to the employee.

The employee’s share of the TyEL contribution varies in accordance with the employee’s age:

• 7.15% for those aged 17–52
• 8.65% for those aged 53–62
• 7.15% for those who are 63 and older

For a contract employer, the amount of contribution is also affected by, for example, Elo’s client bonus and group discount.

For occasional employers, the final TyEL contribution for 2021 is 24.80 % of the paid wages/salaries. 

Elo sends an invoice for the TyEL insurance contributions once per month.

• The invoice lists the overall earnings for each payment date, the TyEL contribution rate and the TyEL contribution amount in euro. From Elo’s Online Service, you can see more detailed information about the reports submitted to the Incomes Register, the contributions based on the reports and the resulting invoices.
• Any possible refunds are taken into account in the invoice.
• If the payroll report is submitted late to the Incomes Register, the TyEL contribution rate will include insurance contribution interest.

If you wish, you can receive a separate invoice for each reported payment date as soon as Elo has received the reported information.

You can also choose to pay the TyEL insurance contributions in advance on the basis of the payroll sum notified by you to Elo.
Please note that if you are using Palkka.fi service you cannot choose this payment method. Please note that the payment of insurance contributions in advance will not, however, provide any interest benefit for you. An advance payment must be made before you report any earnings to the Incomes Register.

We recommend that you take online invoices into use in order to facilitate the payment of your insurance contributions.

Once you have taken online invoices into use, you will receive your invoices directly to your company’s invoice processing system or online banking service. All electronic invoices dispatched by Elo are compatible with Finvoice standards, and our e-invoice operator is OpusCapita.