Buy YEL or TyEL insurance
In need of a pension insurance? Whether you are entrepreneur or employer, you’ve come to the right place. We will get your pension insurance matters in order in a jiff – courtesy of OP and Ilmarinen.
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1. Identify electronically
This way, we can automatically pre-fill your application.
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2. Fill in your application
Add the missing information and submit your application.
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3. All done!
You can buy both insurances at the same time. Start with whichever application you prefer.
Which one do you need?
YEL insurance
YEL insurance is pension insurance in compliance with the Self-employed Persons’ Pensions Act (YEL). YEL insurance is an obligatory insurance for entrepreneurs as it is the basis for an entrepreneur’s pension and social security.
Take out YEL insurance when the following five conditions are met:
- You are aged between 18–67
- You work as a self-employed person for at least four consecutive months.
- Your YEL income is at least EUR 9,010.28 in 2024
- You work in your company.
- You live in Finland.
TyEL insurance
TyEL insurance is pension insurance in compliance with the Employees Pensions Act (TyEL). TyEL insurance is the employee’s pension cover and therefore it is a statutory i.e. a mandatory insurance. In pension matters, employers are always either contract employers or temporary employers.
Take out TyEL insurance when you meet at least one of the following conditions:
- When you hire an employee for a permanent employment relationship
- You pay at least EUR 9,822 in wages or salaries during a period of six months in 2024.