If you take out YEL insurance for the first time, you will receive a 22% reduction in the YEL insurance contribution for the first four years. The calculation takes into account the right to discount in the insurance premium for the entire calendar year. Truster's YEL insurance is provided by Elo Mutual Pension Insurance Company. Truster charges your YEL contribution in connection with the payment of wages.
YEL insurance must be taken out within six months when your gross wage is at least EUR 8,261.71 over four months and 12 within six months. In other words, if you work as a light entrepreneur for less than four months, you do not need to take out YEL insurance.
Remember also if the gross wages for irregular work added together amount to EUR 8,261.71 during a follow-up period of at least 12 months, take out the YEL insurance.
In addition, you are 18–68 years old and live in Finland. If your light entrepreneur activity is so small that your YEL income is below the minimum threshold, you can take out voluntary YEL insurance. The YEL insurance of light entrepreneurs on an old-age pension in accordance with 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.