YEL income is the value of a light entrepreneur's contribution in euros.
Light entrepreneurs must insure themselves according to the YEL if the activity lasts at least four months and the YEL income, i.e. the value of the work input, is at least EUR 8,261.71 per year. YEL insurance accrues an earnings-related pension for you in old age and also takes care of you during illness, parental leave or unemployment.
YEL insurance is statutory and you cannot replace it with voluntary pension insurance. As a light entrepreneur, you take care of your own earnings-related pension insurance.
Do I need a light entrepreneur's YEL insurance even though I work irregularly?
Irregular but recurrent light entrepreneurship requires you to take out YEL insurance if you invoice at least EUR 8,261.71, excluding VAT and compensation, for a period of 12 months. The time is calculated not in the calendar year, but in the 12-month period during which the conditions for YEL insurance are met.
How can I take out YEL insurance?
You can take out insurance directly from our website take out YEL insurance. The start-up entrepreneur receives a 22% discount on fees for the first four years.
Can a light entrepreneur join in an unemployment fund?
A light entrepreneur can become a member of the self-employed persons' unemployment fund if the YEL income is at least EUR 13,247 per year.
When should a starting light entrepreneur take out YEL insurance?
YEL insurance must be taken out within six months, when your light entrepreneur's income is at least EUR 8,261.71 over four months and 12 within six. In other than four months, you do not need to take out an entrepreneur's YEL insurance. Remember also if, when added together for irregular work, you receive EUR 8,261.71 in income from work during a follow-up period of at least 12 months to take out a YEL insurance policy. In addition, you are 18–68 years old and live in Finland.
If your entrepreneurial activity is so small that your YEL income is below the minimum threshold, you can take out voluntary YEL insurance. The YEL insurance of self-employed persons on an old-age pension under the earnings-related pension acts is also voluntary. Voluntary insurance can be terminated at any time, but not retroactively. Moreover, voluntary insurance cannot start retroactively.
What do you get with YEL insurance?
In addition to your earnings-related pension, the YEL earnings-related income is also determined by sickness and parental allowance and unemployment benefits. This is important to take into account when determining the YEL income from work. YEL insurance is the basis of social security.
How do I define my YEL income?
It is a good idea to base the definition on the gross salary you receive. Expenses deducted by a light entrepreneur and tax-exempt allowances are not included in the income from work. If the gross wage exceeds EUR 8,261.71 over a 12-month period, take out the YEL insurance.
Can I take out YEL insurance at Truster's invoicing service?
Yes, you can take out YEL insurance through us. We also bring the feature to our father-in-law.
Why would I take out YEL insurance through Truster?
By taking out truster's YEL insurance , you will be able to pay the YEL conveniently in connection with the payment of wages. Truster's YEL insurance is provided by Elo Mutual Pension Insurance Company.
