The Ministry of Social Affairs and Health has confirmed the pension insurance contribution rates for 2024.
Next year, the TyEL basic contribution of contract employers will be 25.12% of their payroll. The basic contribution also includes a pension provider-specific expense loading fee. The contribution is reduced by client bonuses based on the solvency of the pension insurance company.
If a company’s payroll was a minimum of EUR 2,251,500 in 2022, the insurance contribution will also be affected by the premium category and premium loss discount.
Contract employers can check their overall TyEL contribution percentage from Veritas’ online service.
TyEL contributions in 2024
The TyEL basic contribution of contract employers, without the expense loading fee, is 25.12% of the payroll (25.30% in 2023).
- The TyEL insurance contribution of occasional employers is 26.12% of the payroll (26.20% in 2023).
- The TyEL insurance contribution of employees is 7.15% for those under the age of 53 and over the age of 62.
- The percentage is 8.65% for employees between the ages of 53–62.
YEL contributions in 2024
- The insurance contribution of entrepreneurs will remain at the same level as in 2023.
- Thus, the contribution for entrepreneurs under the age of 53 and over the age of 62 will remain 24.10% of the confirmed YEL income amount.
- For those aged 53–62, the insurance contribution is 25.60% of the confirmed YEL income.
