List of topical issues
21.10.2020

The central labour market organisations have agreed on the private-sector earnings-related pension contributions for 2021. The Ministry of Social Affairs and health will confirm the grounds for the earnings-related pension contribution upon application by the earnings-related pension insurers.

The average contribution collected in 2021 will return to the level before the contribution was reduced due to the corona crisis. Thus, the average contribution will be 24.40 per cent of the gross monthly wage that forms the basis of the contribution.
 
The contributions under the Employees’ Pensions Act (TyEL) for 2021 are based on the results of negotiations in 2016.

The employees’ contribution in 2020 will be 7.15 per cent of their monthly gross wage for persons under 53 or over 62 years. For persons between the ages of 53 and 62, the contribution rate will be 8.65 per cent. 

The average employer contribution will be 16.95 per cent of the wages that form the basis for the contribution. 

The contribution for self-employed persons will remain at the same level as in 2020. For persons under 53 or over 62 years, the contribution will be 24.10 per cent of the  pension-declared income. For self-employed persons between the ages of 53 and 62, the contribution will be 25.60 per cent of the pension-declared income.

More information 
Mikko Kautto, Chair of the Pensions Negotiation Group, mikko.kautto(at)etk.fi, phone +358 29 411 2185