eläkemaksuja

Eläkemaksuja refers to pension contributions in Finnish. These are payments made to fund retirement pensions. Both employees and employers typically contribute to pension schemes. In Finland, these contributions are primarily linked to the statutory earnings-related pension system, known as TyEL for private sector employees and the state pension system for public sector employees.

The amount of eläkemaksuja is usually calculated as a percentage of an individual's earnings. For employees, a portion of their gross salary is deducted and paid towards their pension. Employers then contribute a matching amount, often a larger percentage, to the employee's pension fund. These contribution rates can vary based on factors such as the employee's age and the specific pension provider.

The purpose of eläkemaksuja is to ensure that individuals have financial security during their retirement years. The accumulated funds from these contributions are invested, and over time, they grow to provide a pension income upon retirement. The administration and management of these pension contributions are overseen by designated pension institutions. The system aims to provide a sustainable and sufficient income for retirees.