Discount for the newly self-employed

Your YEL income is used as the basis for calculating your insurance contributions. If you are

  • under 53  or over 62 years of age, the contribution is 24.1 % of your earnings
  • 53-62 years of age the contribution is 25.6 % of your earnings.

If you are starting up your first company, you get a discount of 22 % on your YEL contribution for a period of four years.