Self-employed person’s pension
Your YEL income decides the size of your pension. You can retire just like employees.
When can I retire?
As a self-employed person, you can retire just like an employee. In addition to the old-age pension, you can retire on a partial old-age pension. If your work ability weakens, you can apply for a disability pension or a years-of-service pension. The family of a deceased self-employed person can receive a survivors’ pension.
Your retirement age is determined based on your year of birth. If you wish to reduce your working hours when your retirement age approaches, you can retire on a partial old-age pension before your actual retirement age. You can retire on a permanent old-age pension flexibly after you have reached the lower limit for old-age pension.
The pension does not begin automatically, so be sure to apply for it. When your old-age pension begins, your YEL income – based on which your pension has accrued – will be taken into account until the end of the month preceding the start of your pension.
Handle your pension matters easily online
- check your pension accrual in the pension record
- find out your old-age retirement age
- view your pension estimate
- submit a pension application
What happens to my YEL insurance when I retire?
Your YEL insurance will be terminated automatically when you receive a positive pension decision on
- an old-age pension
- a disability pension
- a partial disability pension
- a years-of-service pension.
Your YEL insurance will not be terminated automatically when you receive a positive pension decision on
- a partial old-age pension.
Being an entrepreneur while on a pension
You can continue your entrepreneurial activities, start a new business or work as an employee even while on a pension. If you continue your entrepreneurial activities or restart them while on a pension, you may require YEL insurance.Read more about self-employment while on a pension