Price of YEL insurance

The price of YEL insurance depends on your confirmed YEL income. If you are newly self-employed, you get a 22% discount on your YEL insurance contributions for the first four years. Your YEL contributions are fully tax-deductible.

What determines the price of YEL insurance?

The price of YEL insurance is calculated on the basis of your YEL income. For your own pension and other social security benefits, it is important that your YEL income is at the correct level right from the start.

The price of your YEL insurance depends on your YEL income. Test out our Calculator for the self-employed to estimate the impact of your YEL income on your social security and pension accrual, and on your insurance contributions.

The Ministry of Social Affairs and Health confirms the contribution percentages annually. In 2023, the contribution percentages are

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

See the table where we have gathered social security contributions and limits

Four-year discount when you are just starting your self-employment

When you start your self-employment, you get a discount of 22% for a period of four years (48 months). 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 valid initially, say, for 10 months, you still have 38 months of the discount left. You can use it if you take out YEL insurance again in the future.

Are YEL insurance contributions tax deductible?

YEL contributions are fully tax deductible! If you pay your YEL contributions yourself, you can deduct them in your personal taxation. If, however, your company pays your YEL contributions, the contributions are to be deducted in your company’s taxation. Follow the tax authority’s instructions on filing a tax return.

View your YEL contributions in Varma Online Service

We notify the tax authority of the YEL incomes of our YEL insured parties annually. We do not notify the tax authority of the YEL insurance contributions.

When do YEL insurance contributions fall due?

The YEL contribution falls due on the 20th day of the month or on the following banking day. You can choose 1, 2, 3, 4, 6 or 12 instalments per year. The payment arrangements can be changed during the year, as long as half of the contributions fall due before August.

Try out our handy calculator for the self-employed! It will help you determine YEL instalments that suit you best.

Try out the YEL calculator

Varma's own collection advisors are here to help

If necessary, you can request an extended term of payment through our online service. The term of payment is subject to interest for late payment (10.5% in 2023). Varma’s collection advisors will work with you to find the best solution for your payment situation. Don’t hesitate to contact us! We charge a EUR 40 collection fee for sending a payment reminder.

Log in to Varma Online Service

YEL invoices electronically

If your company pays your YEL insurance contributions and uses electronic invoicing, you can give us of your e-invoicing address and operator in Varma Online service.

Submit your e-invoice address in Varma Online Service

If you pay your YEL insurance contributions yourself, you can activate an e-invoice agreement for them in your personal online bank. The bank will automatically send us information about the e-invoice agreement.

Help with using our services

Take care of your YEL matters online

In our online service, you can, for instance

  • apply for a change in your YEL income
  • view your past and future YEL contribution
  • request an extended term of payment for an invoice

Sign in to the service using your personal banking codes.

Log in to Varma Online Service