YEL calculator
The YEL calculator allows you to estimate the impact of YEL income on pension and social security and on the YEL contribution. You can also try out how different instalment months and amounts affect the YEL contribution.
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Summary
Insurance contributions
Allowances
Instalments
The number of instalments and the instalment months affect the YEL payment. The cheapest option is to pay in one instalment in January.
If your insurance starts in the middle of the year, you will pay the YEL contribution from the time your insurance takes place.
Due date | YEL contribution | New entrepreneur -22% |
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Estimate of old-age pension
The sums are estimates calculated for the current year.
In the old-age pension estimate, the assumption is annual earnings-level growth of 1.5% in real terms. The pension estimate is based on valid legislation and it takes into account the impact of the life expectancy coefficient. The pension estimate includes the accrued earnings-related pension if you have entered the information in the calculator.
The sums are estimates calculated for the current year.
The pension estimate is based on valid legislation and it takes into account the impact of the life expectancy coefficient. The pension estimate includes the accrued earnings-related pension if you have entered the information in the calculator.
Estimate of old-age pension
What is self-employed person’s pension insurance?
YEL insurance is the basis for your pension and social security. That is why the insurance is statutory, in other words mandatory. You grow your pension with each YEL contribution you pay. At the same time, you improve your other social security benefits. You cannot replace YEL insurance with voluntary pension insurance.
Your YEL contributions will be calculated based on your YEL income
YEL insurance costs the same at all earnings-related pension insurance companies. The contents of the insurance are also the same everywhere.
The YEL contribution is a percentage of your confirmed YEL income. If you are a first-time entrepreneur or you have been self-employed for less than four years, you will receive a 22% discount on your YEL contribution. You can deduct the contribution in your personal or company taxation. Read more about the YEL contributions.