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Elo’s efficiency reduces the expense loading fee – Check the updated estimate of the TyEL contribution for 2023 in the Online Service

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The expense loading component of the TyEL insurance contributions, known as the expense loading fee, will be determined in a company-specific manner as of 1 January 2023. The level of the expense loading fee must correspond to the administrative fees accrued by the pension insurance companies. Elo has worked hard to increase the efficiency of its operations and our customers will reap the benefits of this work already next year. The expense loading fees of our customers for 2023 will, on average, be lower than earlier estimated.

This year, Elo’s focus has been on improving its activities. We have succeeded in this endeavour, and the result is that the Ministry of Social Affairs and Health has recently confirmed a new payment basis for our expense loading fee. We will continue to develop our activities so that our customers can continue to benefit in the coming years as well.

The updated estimation of the 2023 TyEL contribution can now be accessed in Elo’s Online Service

As of the beginning of October 2022, Elo customers have been able to get a TyEL contribution estimation for the next year using our Online Service. When this service was added, the estimation of the expense loading fee was based on the earlier payment bases. We have now, however, updated the estimation of the 2023 TyEL contributions in our Online Service to correspond with the new payment bases.

Our contribution estimations include estimations of the TyEL contribution for 2023, the TyEL contribution percentage for the next year, the employee’s share of the contribution, the customer bonus and Elo’s expense loading fee, including any possible discounts.

Visit our Online Service to see the contribution estimation for your TyEL contributions in 2023:

  1. Log in to Elo’s Online Service.
  2. Go to the Insurances section and select TyEL insurance.
  3. The Contribution estimation link can be found under the Certificates and calculations reports tab.
  4. Choose the year 2023 and enter an estimate of your payroll for 2023.
  5. Click on Calculate a contribution estimate to get an estimate of your TyEL contribution for 2023.

Log in to the Online Service to see the contribution estimation for 2023 >

Read more about the company-specific expense loading fee from our previous news >

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