This year, Varma will review the income of its YEL customers whose confirmed income is under EUR 15,000 and no essential change has been made to their income after 2020. Entrepreneurs whose YEL income is to be reviewed will receive a letter between April and June informing them of the review, but this information does not require any action yet.
The reviews will take place between June and November, at which time we will give entrepreneurs clear instructions. Unfortunately, we are unable to give a more specific schedule for each company.
We will make the YEL income review simple and easy. It will be possible to take care of all potential actions in the Varma Online Service.
Are you a YEL insurance customer of Varma? This is how we review YEL income
This is how Varma carries out its reviews
- For the purpose of the review, we receive information about your self-employed activities and their extent from the Finnish Centre for Pensions. This information helps us determine whether your current YEL income is at the right level.
- If your YEL income is at the legal level or if it would change by no more than five per cent from its current level, we will inform you that a review has been carried out and that your confirmed income will not be changed.
- If your YEL income is not at the legal level, we will propose a new YEL income level for you. For the first two review rounds, there is a limit on how much a person’s YEL income can be increased. The maximum increase we can propose for your current YEL income is thus EUR 4,000.
What to do if you receive a proposal from us:
- If you accept the proposed increase, up to a maximum of EUR 4,000, you do not need to do anything.
- If you do not accept the YEL income level we propose, you have two weeks’ time to send us an explanation of the factors affecting the value of your work input as well as your opinion of what the level of your YEL income should be. We will assess how the information you provided affects your YEL income, and thereafter we will make a decision on the matter.
In our proposal, you will also see the lowest and highest recommended levels for your YEL income. If you would like to increase your YEL income to the legal level right away, give us your consent to do so within two weeks. In this case, the increase to your YEL income can be more than EUR 4,000.
Any decision we make concerning your YEL income is always appealable.
If your YEL income is raised, the increase will take effect at the start of the second calendar month after the month in which the review was started. For example: If the income review begins in June, the YEL income level can be changed as of 1 August 2023.
This is how we review YEL incomes
Note the following if you voluntarily want to apply for a change in your YEL income
If you apply for a change in your YEL income this year before the review begins, your confirmed YEL income may deviate from the level of YEL income you are applying for, and the maximum increase of EUR 4,000 will not apply. Varma is obligated to immediately adjust your YEL income to the legal level.
Submit additional information easily in the Varma Online Service
All of Varma’s YEL insurance customers can take care of any actions related to the income review in the Varma Online Service. That is why it is a good idea to log in to the online service well ahead of time to make sure your address and other contact details are up to date.
If you have been using the online service, you will receive documents related to the income review electronically. Otherwise, we will send you a letter by post.
You can submit your explanation of the factors affecting the value of your work input and your opinion of what your YEL income level should be in the Varma Online Service. This will ensure that your information reaches us within two weeks. If you are unable to submit this information via the Varma Online Service, you will receive more detailed instructions along with the YEL income proposal. You cannot submit this information to our customer service over the phone.
The Varma Online Service is easy to use and guarantees information security. You can access the service on a PC, tablet or smart phone when it is most convenient for you. All you need to log in is your online banking codes or a Mobile ID.
Do you have questions about the review, or do you need more information?
Please see the answers to frequently asked questions on the topic. Open the page YEL income review