TyEL insurance

With TyEL insurance, you take care of your employee's pension security. You can easily get the TyEL insurance issued by our partner Varma directly from us online.

Get TyEL insurance

TyEL insurance = statutory employment pension insurance for employees

Organize your employees' pension cover

As an employer, it is your responsibility to insure your employees with TyEL insurance and for reporting their wages to the Finnish Incomes Register. As an entrepreneur, you must take out employees’ pension insurance or TyEL if you employ at least one person and pay wages. TyEL insurance is the mandatory insurance for all entrepreneurs with employees working in Finland. If you work as a self-employed entrepreneur without employees, you need YEL insurance.

Who needs TyEL insurance coverage?

TyEL insurance, i.e. employment pension insurance, is required when

  • you hire an employee for an employment relationship,
  • your employee is between 17 and 69 years old and
  • you pay the employee a salary of at least 68.57 euros per month (2024).

Basic information about TyEL insurance

A TyEL insurance is mandatory for all employer's with at least one employee. Employment pension insurance is part of Finnish social security. In addition to the pension, the purpose of TyEL insurance is to secure the livelihood of employees in the event of long-term damage caused by various risks, such as incapacity for work.

The TyEL insurance must be taken at the latest when you report the salary information for your first employee to the Incomes Register. You need an insurance number for your payslip. The salaries must in turn be reported to the Incomes Register no later than 5 days from the day when the salary is paid. In general, the income of your employees that determines the pension is the same as the taxable income in the withholding tax.

The nationality of the employee does not matter. Work performed in Finland is generally insured in Finland, regardless of the nationality of the employer or employee. 

TyEL contribution and payment

As the employer, you are responsible for your employees’ pension cover by paying a fixed share of their TyEL contribution. Insurance premiums are based on salaries reported in the Incomes Register. Employees also pay a part of the TyEL contribution out of their salary. As the employer, you must make sure that the employee’s contribution is paid to the pension insurance company. In 2024 the basic TyEL contribution is 25.12 % of the employees’ wages and salary. 

This way, both the employer and the employee participate in the insurance premium. The remainder is paid by the employee. As an employer, you withhold the employee's contribution in connection with the salary payment and pay the entire employment pension contribution to the pension insurance company. Read more about contributions on Varma's website

Other important business insurances