News 27.8.2024

Ilmarinen’s administrative cost will decrease in 2025

At the start of next year, Ilmarinen’s customers’ administrative cost will decrease by roughly 10 per cent. The administrative cost is part of the TyEL insurance contribution, and in that respect, your TyEL contribution as our customer will decrease.

Administrative cost for 2025 will be reduced on average by approximately 10 % compared to 2024.

The price of earnings-related pension insurance is influenced by the sector’s common TyEL contribution as well as, among other things, company-specific contribution. The cost effectiveness of Ilmarinen's operations continued to improve, and operating expenses financed using loading income have lowered. This means directly lower contributions for our customers.

Read about how the TyEL contribution is determined

Ilmarinen has reduced the annual costs of managing pension insurance by a third, or almost EUR 50 million, since 2018.

What is the administrative cost?

The administrative cost is the part of the pension contribution that is used to cover a pension company’s operating costs. It has a rather modest impact on the earnings-related pension contribution. For Ilmarinen’s customers in 2025, it will be no more than 0.18 per cent of the payroll. As of the start of 2023, the administrative cost has been determined on a company-specific basis.

Calculate an estimate of your contribution online

We will provide news and information about next year’s contributions during the autumn. The total contribution level for 2025 is not yet known. The Ministry of Social Affairs and Health will confirm the basic TyEL contribution by mid-November.

You can see an estimate of your insurance contribution rate in our online service.

Read more

Ilmarinen's return on investment 4.9 per cent

Read also

Earnings-related pension contributions and discounts

Large employer’s TyEL contribution

 

 

Current topics

Article 20.8.2024

A diverse workplace is a choice – and a resource

A diverse community accepts and appreciates differences. Diversity at work is also tightly connected to inclusivity and equality. At IKEA, diversity is an important part of the work community and daily work. The community is easy to join and lets everyone’s voice be heard.

A diverse workplace is a choice – and a resource

Press release 26.4.2024

Ilmarinen’s return on investments 3.2 per cent and efficiency improved further

The return on Ilmarinen’s investments in January–March was 3.2 per cent. The company’s cost-effectiveness improved further as premiums written grew and the operating expenses necessary for providing pension security fell. “We have successfully continued implementing Ilmarinen’s strategy and improved our productivity significantly over the past six years,” says Ilmarinen’s CEO Jouko Pölönen.

Ilmarinen’s return on investments 3.2 per cent and efficiency improved further
More news and press releases