työeläkemaksut

Työeläkemaksut are statutory contributions that fund the Finnish earnings-related pension system, known as TyEL for employees in the private sector and other similar schemes for public sector employees. These contributions are mandatory for both employers and employees. The purpose of these payments is to ensure that individuals have a pension in retirement, as well as to provide disability and survivor pensions.

The contribution rates are determined annually by the Finnish Ministry of Social Affairs and Health. The rates are split between the employer and the employee, with the employer generally paying a larger share. For employees, their portion is typically deducted directly from their gross salary. The exact percentage varies based on the employee's age and sometimes the type of work.

These collected contributions are managed by pension providers, such as Ilmarinen, Varma, and Elo, which invest the funds to ensure the long-term solvency of the pension system. The contributions are calculated based on the employee's earned wages and salaries, up to a certain ceiling. Special rules may apply for entrepreneurs and certain other groups. The system is designed to be sustainable, with contribution rates adjusted as needed to meet future pension obligations.