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.
Read more about occasional employers >