Pensions for the self-employed
- Public service
If you are self-employed, you have to take care of your obligatory pension insurance yourself. Your pension contributions and your future pension depends on your estimate of how much you will earn from your self-employment. That amount is called your confirmed income from self-employment.
Your pension insurance for self-employed workers secures your income
- when you get old,
- when you fall ill,
- if you become unemployed,
- if you go on a parental leave, or
- if your self-employment ends because you lose your ability to work.
Your family will also get a survivors’ pension if you die.
You are considered a self-employed worker if you:
- receive a grant in the arts or sciences,
- are an agricultural entrepreneur, or
- have earnings from work without being in an employment or service relationship.
If you simply own a company, you cannot take out pension insurance for self-employed workers. You have to work in your company to have the right to insure yourself. How much of the company you own and different company forms also affect your pension insurance, even if you work in your own company.
The Self-employed Persons’ Pensions Act applies also to a foreign self-employed worker who works in Finland.
If you are retired and work as a self-employed person, you can take out voluntary insurance for your self-employment.
Do the following
If you do self-employed work on the side or if it is seasonal but meets the requirements of self-employment set out in the law, you have to take out insurance. In other words, the same rule applies if you are a small-scale self-employed person.
You have to take out insurance for your self-employment if:
- you are between 18 and 69 years old (for those born in 1957 or earlier, the insurance obligation ends at age 68, for those born between 1958 and 1961, the insurance obligation ends at age 69, for those born in 1962 or later, the insurance obligation ends at age 70),
- you work in your own company,
- you have worked as a self-employed for at least four months without interruptions after you have turned 18, and
- your confirmed income from work is at least 8,261.71 euros per year (in 2022).
Your confirmed income is your estimate of how much you will earn from your self-employment.
As a self-employed worker, you have to take out pension insurance under the Self-employed Persons’ Pensions Act within six months from the date on which you start your self-employment. You can choose which pension insurance company or pension insurance fund (if there is one in your line of business) that you want to insure yourself in. You cannot replace the statutory pension insurance for self-employed workers with voluntary pension insurance.
If you are self-employed and have employees, you have to insure them, as well.
If you earn your living from agriculture or get a grant in the arts or sciences, you have to take out your pension insurance with the Farmers’ Social Insurance Institution Mela.
To whom and on what terms
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