Social Security Payments and Limits In Finland 2018

Employee pension payments (TyEL)
Salary minimum for TyEL	58,27 €/month
Temporary employer with only temporary workers and total salaries below 8 676 €/6 months (2020)	25,30%
Contractual employer with permanent staff and total salaries from 8 676 €/6 months (2020) TyEL basic payment without client discounts.	25,30%

Employee part of TyEL-payment
17-52 years old	6,35%
53-62 years old	7,85%
over 63 years old	6,35%

Employer part of TyEL-payment
17-52 years old	18,95%
53-62 years old	17,45%
over 63 years old	18,95%

Entrepreneurs’ pension (YEL) payment
18-52 years old	24,10%
53-62 years old	25,60%
over 63 years old	24,10%

– starting entrepreneurs’ payment
18-52 years old	18,80%
53-62 years old	19,97%
over 63 years old	18,80%

YEL – Income Limits
YEL – income minimum	7 656,26 €/year
YEL – income maximum	173 875 €/year
Unemployment coverage: right to Kela’s basic daily allowance if income at least	12 576,00 €/year
Entrepreneur can become a member of an unemployment fund	12 576,00 €/year

Employer’s Social Security Contribution (sosiaaliturvamaksu)	0,86%

Employment Fund Contribution (työttömyysvakuutusmaksu)

Employee part (withheld)
for employees	1,90%
for shareholders	0,65%-0,92%

Employer part
for companies with total salaries up to 2 086 500€/year	0,65%
for companies with total salaries above 2 086 500€/year	2,60%

Sources: Keskinäinen työeläkevakuutusyhtiö Varma (in Finnish)

Please find more information about taxes and employee-related benefits in Finland in our Tax Consulting section and about employees’ tax-exempt travel allowances on our Tax-Exempt Travel Allowances page.

In case of questions please contact our specialists through the contact form, e-mail info@kuljus.eu or phone +358 503 220 600.