Finland revises social security contribution rates
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Changes in pension contribution rates
| Pension contribution (TyEL) | 2024 Rate | 2023 Rate |
|---|---|---|
| Minimum monthly earnings | 68.57 EUR per month | 65.26 EUR per month |
| Basic TyEL contribution for contract employers (includes employee’s share) • The employee is either permanent or paid at least EUR 9,822 over a period of 6 months in 2024 | 25.12% | 25.30% |
| TyEL contribution for occasional employers (includes employee’s share) • The employee is either temporary or paid less than EUR 9,822 over a period of 6 months in 2024 | 26.12% | 26.20% |
| Employee’s share of TyEL contribution • Employees between ages of 17-52 years • Employees between ages of 53-63 years • Employees who have turned 63 years | 7.15% 8.65% 7.15% | 7.15% 8.65% 7.15% |
Changes in health insurance contribution rates
| Health insurance contribution | 2024 Rate | 2023 Rate |
|---|---|---|
| Employer’s Health insurance contribution | 1.16% | 1.53% |
| Employee’s Health insurance contribution • Contribution for medical care coverage • Contribution for daily allowance coverage (if salaries, wages, YEL income are at least 16,499 EUR per year, otherwise 0%) | 0.51% 1.01% | 0.60% 1.36% |
Changes in unemployment insurance contribution rates
| Unemployment insurance contribution (collected by employment fund) | 2024 Rate | 2023 Rate |
|---|---|---|
| For a payroll of a maximum of 2,337,000 EUR per year (2024) | 0.27% | 0.52% |
| For a part of payroll that exceeds 2,337,000 EUR per year (2024) | 1.09% | 2.06% |
| Contribution for partial owner paid by employer | 0.27% | 0.52% |
| Employee’s contribution | 0.79% | 1.50% |
| Partial’s owner contribution | 0.43% | 0.75% |
Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change
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Finland revises social security contribution rates.
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