Unemployment insurance contributions for 2021 have been confirmed

Stock Exchange Release
Employment Fund
November 27, 2020 at 13.00

The President of the Republic approved the bill on next year’s unemployment insurance contribution on 27 November 2020. According to the enacted law, the amount of unemployment insurance contributions will be raised by 0.32 percentage points in total. Employers’ average contribution will be increased by 0.17 percentage points and employees’ contribution by 0.15 percentage points.

The contribution rates for 2021 are as follows:

• Employee unemployment insurance contribution is 1.40% of the wage.
• Employer unemployment insurance contribution is 0.50% of the wage if the wage sum is no more than EUR 2,169,000. The unemployment insurance contribution for the part exceeding the wage limit is 1.90% of the wages.
• The employee contribution paid by part-owners is 0.65% of wages. The employer contribution paid for a part-owner is 0.50%.
• The unemployment insurance contribution of state-owned companies is 0.50% of the amount of paid wages, if the wage sum is no more than EUR 2,169,000. The contribution for the part exceeding the wage limit is 1.15% of the wages.
• Unemployment insurance contribution of universities is 0.50% of the wages, if the wage sum is no more than EUR 2,169,000. The unemployment insurance contribution for the part exceeding the wage limit is 1.38% of the wages.

The confirmed unemployment insurance contributions are in line with the proposal made by the Employment Fund in August 2020. Contributions will be increased to finance increased unemployment allowance expenses.

 

Helsinki, 27 November 2020

Employment Fund

Tapio Oksanen

Chief Financial Officer

 

Further information:

Janne Metsämäki, Managing Director, +358 40 522 3614

Tapio Oksanen, Chief Financial Officer, +358 40 539 4651

Distribution:

NASDAQ OMX Helsinki

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