YEL in 2023

When do I need YEL insurance in 2023? How much will YEL insurance cost in 2023? What is the minimum amount of YEL income in 2023? What kind of discount can I get on YEL insurance? YEL insurance, i.e. pension insurance for the self-employed, is statutory pension insurance for entrepreneurs. Read the 2023 key figures for YEL insurance on this page.

YEL contribution in 2023

The YEL contribution is a percentage of your YEL income confirmed for your YEL insurance. The Ministry of Social Affairs and Health confirms the contribution percentages towards the end of each year. In 2023, the contribution rates for YEL insurance are the same as in the previous year:

  • 24.10% for those aged 18-52
  • 25.60% for those aged 53-62
  • 24.10% for those aged 63-69

Read more about YEL contributions

YEL contribution for new entrepreneurs in 2023

If you are newly self-employed, meaning you are taking out YEL insurance for the first time, you get a 22% discount on your YEL contributions! The discount is valid for the first four years of your YEL insurance, i.e. 48 months.

Take out YEL insurance online

Our handy YEL calculator to help you

Try our handy calculator for entrepreneurs! You can use the calculator to estimate the impact of your YEL income on your pension, social security during your working life, and insurance contributions.

Click here to use the YEL calculator

When is the 2023 YEL contribution due?

The due date for the YEL contribution is the 20th day of the month or the following bank day. The due dates for the YEL contribution in 2023 are:

  • 20 January 2023
  • 20 February 2023
  • 20 March 2023
  • 20 April 2023
  • 22 May 2023
  • 20 June 2023
  • 20 July 2023
  • 21 August 2023
  • 20 September 2023
  • 20 October 2023
  • 20 November 2023
  • 20 December 2023

You can choose the number of instalments for your YEL contribution. You can choose between 1, 2, 3, 4, 6 or 12 instalments per year. You can change your payment method at any time, as long as at least half of your payments are due by the July due date (20 July 2023).

YEL income in 2023

The minimum amount of YEL income in 2023 is EUR 8,575.45. This means that the minimum YEL income on a monthly basis is roughly EUR 715.

The upper limit for YEL income in 2023 is EUR 194,750.

You can use the YEL income calculator to help you determine your YEL income. Enter your business sector and an estimate of your annual turnover, and you will receive a recommendation for your YEL income based on your company's turnover and the average salary in your sector. Use the calculator to estimate your YEL income.

Let us know as soon as there is a material change in your entrepreneurial activity or work input to ensure that your YEL income is up to date. You cannot change your YEL income retroactively. You can apply for a change in YEL income in Varma Online Service!

Read more about YEL income and how it is determined

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The wage coefficient will increase YEL income in 2023

YEL income will be increased by the wage coefficient as of 1 January 2023. According to the law, YEL income will be indexed on the first day of January each year. On 20 October 2022, the Ministry of Social Affairs and Health confirmed the wage coefficient for 2023, and it is 1.558.

In practice, this means that if your confirmed YEL income in 2022 is for example EUR 30,000, with the increase it will be EUR 31,139 from 1 January 2023.

The indexation will keep the entrepreneur's income in line with the general payroll and price development. In the wage coefficient, the change in wages accounts for 80%. The change in prices, on the other hand, accounts for 20%.

Unemployment cover for entrepreneurs in 2023

In order to be eligible for unemployment cover as of 1 January 2023, your YEL income must be at least equal to the unemployment benefit threshold. In 2023, the so-called unemployment benefit threshold will be EUR 14,088. If your YEL income is at least EUR 14,088, you may be eligible for Kela's basic unemployment allowance and you can join the Entrepreneur Fund.

If necessary, apply for a change in your YEL income in Varma Online Service or by calling 010 192 100. There must be a justified reason for the change in YEL income. If you are a member of the Entrepreneur Fund, make sure you also report your confirmed YEL income to the fund.