YEL in 2024

When do I need YEL insurance in 2024? How much will YEL insurance cost in 2024? What is the minimum amount of YEL income in 2024? 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 2024 key figures for YEL insurance on this page.

YEL contribution 2024

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 2024, 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 the YEL contribution

YEL contribution for newly self-employed persons in 2024

If you are newly self-employed and 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 easy-to-use 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.

Try our YEL calculator

When is the 2024 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 2024 are:

  • 22 January 2024
  • 20 February 2024
  • 20 March 2024
  • 22 April 2024
  • 20 May 2024
  • 20 June 2024
  • 22 July 2024
  • 20 August 2024
  • 20 September 2024
  • 21 October 2024
  • 20 November 2024
  • 20 December 2024

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 (22 July 2024).

YEL income 2024

The minimum amount of YEL income in 2024 is EUR 9,010.28. This means that the minimum YEL income on a monthly basis is approximately EUR 751.

The upper limit for YEL income in 2024 is EUR 204,625.

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 2024

YEL incomes will be adjusted using the wage coefficient as of 1 January 2024. According to the law, YEL incomes are adjusted on the first day of January each year. On 27 October 2023, the Ministry of Social Affairs and Health confirmed the wage coefficient for 2024, and it is 1.637. In 2023 the wage coefficient was 1.558.

In practice, this means that if your confirmed YEL income in 2023 is, for example, EUR 30,000, it will be increased to approximately EUR 31,521 as of 1 January 2024.

The indexation will keep the entrepreneur's YEL 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 2024

In order to be eligible for unemployment cover as of 1 January 2024, your YEL income must be at least equal to the unemployment benefit threshold. In 2024, the so-called unemployment benefit threshold will be EUR 14,803. If your YEL income is at least EUR 14,803, 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.