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Self-employed
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Social security and pension for the self-employed
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Pension for the Self-Employed
Pension for the Self-Employed
When can you retire? How much pension have you accrued? Can you continue running your business after retirement? On this page, you'll find answers to the most common pension questions for the self-employed. You can also check your pension situation and make pension calculations in the MyPension service.
Planning to retire? Remember these things
When you're planning your retirement, it's worth checking a few things in advance. This helps ensure that your pension starts when you want it to.
- You can apply for an old-age pension once you have reached your lowest retirement age.
- Use the pension calculator in the MyPension service to estimate your future pension and choose the retirement date that suits you best.
- Apply for your old-age pension easily in the MyPension service.
- Your YEL insurance ends automatically when your old-age pension begins. You do not need to terminate the insurance yourself.
- You can continue your self-employed work after retiring. There is no earnings limit while receiving an old-age pension, so you can continue your business activities to the extent you choose.
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Order a tax card for your pension
Would you like to transition into retirement gradually?
Retirement doesn't have to happen all at once. With a partial old-age pension, you can start drawing part of your pension and move towards retirement at your own pace.
A partial old-age pension allows you to take 25% or 50% of your accrued earnings-related pension before your actual old-age pension begins.
You can continue your business activities as usual, reduce your workload, or stop working altogether. A partial old-age pension does not require you to end your business activities or reduce your work.
As a self-employed person, remember
- You can apply for a partial old-age pension once you reach the minimum age for your age group.
- You can continue your self-employed work without any earnings limit.
- Your YEL insurance does not end when your partial old-age pension begins.
- Make sure your YEL income reflects the value of your work contribution during the period you receive a partial old-age pension.
- If you start receiving your pension before reaching your lowest retirement age, a permanent reduction for early retirement will be applied. The reduction is 0.4% for each month before your lowest retirement age.
Before making a decision, consider how a partial old-age pension will affect your current income and your future old-age pension.
You can compare different options in the MyPension service and apply for a partial old-age pension once you've decided. The application becomes available in the MyPension service no earlier than one month before you reach the minimum age.
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Calculate the impact of partial old-age pension
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Read more about a partial old-age pension
Frequently Asked Questions
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You can retire on an old-age pension when you reach your lowest retirement age. Your retirement age depends on your year of birth.
If you would like to reduce your workload before retirement, you can explore whether you're eligible for a partial old-age pension.
You can also continue running your business after reaching retirement age and keep your YEL insurance in force. This allows you to accrue additional pension until you reach your upper retirement age.
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Your pension is based on the earnings-related pension you accrue throughout your working career.
The amount of your pension is affected by factors such as:
- Your YEL income
- The length of your business activities
- Any employment during your career
- Certain social benefits and studies
You can get a personal estimate of your future pension in the MyPension service.
Calculate your pension estimate
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If you are covered by YEL insurance, you accrue earnings-related pension based on your YEL income.
The better your YEL income reflects the value of your work contribution, the better it supports your future pension.
The same YEL income also affects many other benefits during your working life.
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Yes, you can.
You can continue your current business activities, start a new business, or work as an employee during retirement.
Whether you need YEL insurance while receiving a pension depends on the type of pension you receive and the extent of your business activities.
Read more about entrepreneurship in retirement
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Your YEL insurance ends automatically when you are granted an old-age pension, a years-of-service pension, or a disability pension.
Moving to a partial old-age pension does not allow you to terminate your YEL insurance. The insurance must remain in force if the conditions for YEL insurance continue to be met.
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Would you like to know when you can retire or how much pension you have accrued?
Log in to the online service and check your situation.
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Many self-employed people continue working after their old-age pension begins.
Common reasons include:
- Wanting to continue meaningful work
- Maintaining customer relationships
- Managing a gradual ownership transfer of the business
- Earning additional income alongside a pension
There is no earnings limit while receiving an old-age pension, so you can decide yourself how much you want to work.
Read more about entrepreneurship in retirement