Finland revises social security contribution rates

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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