The amended act will specify in more detail how a self-employed person’s confirmed income should be estimated. In the proposed amendment, one of the starting points suggested for the determination of confirmed income is the branch’s median salary in the private sector. In addition, the pension company will continue to take into account all information about the extent of the self-employed person’s work contribution, such as the extent of entrepreneurial activities and information describing the self-employed person’s professional competence and the value of their work contribution. Another change introduced by the amendment is that the level of the self-employed person’s confirmed income would also be regularly checked.
The Finnish Pension Alliance TELA has published an article about the amendment, providing an overview of the key points of the proposed amendment.
Read the article on TELA’s website (in Finnish)
See also:
Varma helps entrepreneurs define the appropriate level of confirmed YEL income