Article 22.11.2022

YEL in 2023 – Six things for entrepreneurs to remember

Year 2023 is fast approaching. Below you’ll find six things every entrepreneur needs to know about their YEL insurance at the turn of the year.

1. The payment percentage remains the same

The YEL contribution will remain at the same level in 2023 as this year. For entrepreneurs under 53 and over 62, it is 24.10%. And 25.60% for 53–62-year-olds.

Read more about YEL payments »

2. Your YEL income will increase based on the wage coefficient

Your YEL income is checked every year by the wage coefficient. The purpose is to ensure that the YEL income follows overall wage and price levels and maintains the same relative level as the previous year. In 2023, the wage coefficient will increase your YEL income by 3.79%.

Read more about the wage coefficient and pension index »

3. The interest rate will rise

The insurance contribution interest rate will rise to 2.45% at the start of the year. The rate affects the YEL payment depending on the date of payment and due months. The contribution will be either credited or debited with interest according to whether your payments focus on the early or late part of the year. The most advantageous option is to pay the contributions in a single instalment in January.

Read more about YEL payments »

4. YEL income limits will rise

As the year changes, the lower and upper limits of YEL income will rise. The lower limit will be €8,575.45 and the upper limit €194,750. The YEL income limit for unemployment security will also rise. It will be €14,088.

Read more about YEL income »

Read more about unemployment security »

5. You can check your payment information online

As our customer, you can check your YEL income and payment details for 2023 in our online service. 

Log in to the self-employed person’s service »

6. Do you want to accrue more pension and benefit from the tax deduction?

Contribution flexibility allows you to temporarily change the amount of your YEL payment. By paying more, you will accrue more pension – and you can deduct the payments in taxation. The last weeks of December are the most popular times for upward flexibility as the business results for the year becomes clear. You can take advantage of this upward flexibility every year.

You can also reduce your payments and take advantage of downward flexibility. This is possible a maximum of three times in a seven-year period. Read more about the flexibility »

The invoice for the contribution flexibility must be paid during this year, so be sure to make the change in our online service well before the end of the year. Log in to the self-employed person’s service »

YEL in 2023

Insurance contribution % under 53 and over 62 yrs 24.10
New entrepreneur's contribution % under 53 and over 62 yrs 18.798
Insurance contribution % 53–62 yrs 25.60
New entrepreneur's contribution % 53–62 yrs 19.968
YEL income lower limit €/yr 8,575.45
YEL income upper limit €/yr 194,750
Unemployment security lower limit €/yr 14,088
Insurance contribution interest % 2.45
Wage coefficient increases YEL income by 3.79%


Read about the YEL reform

Current topics

News 13.12.2022

YEL reform enters into force at the start of next year

The Self-Employed Persons’ Pensions Act will change at the start of the year: YEL income will be determined in more detail and adjusted more often. “Self-employed persons deserve the same level of pension and social security as employees. The reform will help achieve this,” says Minna Hakkarainen, Ilmarinen’s Director, Insurance Services.

YEL reform enters into force at the start of next year

Article 23.11.2022

Most frequently asked questions on the YEL reform

What questions are self-employed persons asking about the Self-Employed Persons’ Pensions Act (YEL) reform? We assembled all of the questions most frequently asked by self-employed persons. The expert for the article is Ilmarinen’s Director, Insurance Services, Minna Hakkarainen.

Most frequently asked questions on the YEL reform
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