Do you want to be an entrepreneur?
Dreaming of becoming an entrepreneur? Remember to secure your pension and social security with YEL insurance.
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What?
YEL insurance is more than just a pension. It is your safety net if you fall ill, lose your ability to work, or go on family leave.
Life can throw unexpected situations your way – that's when YEL insurance becomes essential.
In addition to being your pension, YEL is the foundation of your social security, which is why it is a mandatory insurance for entrepreneurs.
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Why?
By obtaining YEL insurance, you ensure that your income is secured even in unexpected situations.
In addition to your pension, YEL insurance affects:
- the amount of your sickness allowance
- the amount of your parental allowance
- the level of your unemployment benefits
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When?
You need YEL insurance if you answer 'yes' to these:
You are an entrepreneur aged 18–67 You have been operating as an entrepreneur continuously for at least four months Your annual YEL income is at least 9,010.28 euros in 2024 You live in Finland You work in your company
How much does YEL cost?
Example 1
Alex, a 23-year-old newly graduated hairdresser, has an annual turnover of 35,000 euros and estimates his annual income at 26,800 euros.
As a new entrepreneur, he receives a 22% discount on his YEL insurance for the first four years, making his monthly YEL payment 420 euros.
Example 2
Nina, a 50-year-old experienced consultant, has an annual turnover of 80,000 euros and estimates her annual income at 58,200 euros.
As a new entrepreneur, she receives a 22% discount on her YEL insurance for the first four years, making her monthly YEL payment 912 euros.
Still have questions about YEL?
Download the beginner's guide for entrepreneurs to learn more about YEL insurance.
Download the guide