YEL insurance is the most important insurance for the newly self-employed
YEL insurance is statutory pension insurance for the self-employed. You cannot replace YEL insurance with voluntary pension insurance.
How much does YEL insurance cost?
YEL insurance is based on YEL income. YEL income refers to the monetary value of your own work input on an annual level. YEL contributions are fully deductible either from your personal income tax or from your company’s taxable income.
When you take out YEL insurance, we will confirm your annual YEL income corresponding to your work input. We take into account factors such as your company's turnover estimate and the salary level in your sector when confirming your YEL income.
Discount for a newly self-employed person
When you start your self-employment, you will get a 22% discount on your YEL insurance contributions for the first four years! The discount can be applied for no more than two separate periods. If you are taking out YEL insurance for the first time and it is initially valid for 10 months, for example, you will still have 38 months of the discount left. You can use it if you take out YEL insurance again in the future.