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Responsible for the service Ilmarinen Mutual Pension Insurance Company

YEL – Basis for entrepreneurs’ pension and social security

  • Service
  • Nationwide
  • Public service

Self-employed person’s pension insurance is a mandatory insurance for entrepreneurs. It is the basis for your pension and social security. The insurance is based on YEL income, which determines the amount of your future pension as well as certain benefits paid by Kela, such as sickness and parental allowances. YEL income also determines the level of your earnings-related unemployment security. In addition, the self-employed person’s accident insurance contribution and the compensation for loss of income and pension paid under the insurance are based on your YEL income.

The YEL insurance cover and price are the same in all employment pension insurance companies. The YEL contribution is a percentage of your confirmed YEL income. If you are a new entrepreneur or you have been self-employed for less than four years, you will receive a 22% discount on your contribution. The YEL contribution is tax-deductible. Remember to deduct it in your personal or your company’s taxation.

Basic information

The service is provided byIlmarinen Mutual Pension Insurance Company
Responsible for the serviceIlmarinen Mutual Pension Insurance Company
Area Whole Finland
Available languagesFinnish, Swedish, English
Text edited by: Ilmarinen Mutual Pension Insurance Company
Updated: 5/4/2022