Entrepreneurs
Veritas is a pension insurer for entrepreneurs. Along with YEL insurance, we also provide you with a dedicated insurance contact person. Pia and our other insurance advisors know everything about YEL and TyEL insurance, so you can focus on your business and leave the rest to us.
You are our priority, so we welcome you to always be first in line at Veritas!
Give us a call! We will answer your call in less than 20 seconds.
Phone +358 10 195 612 or mail yel@veritas.fi
Do you need to take YEL insurance?
As an entrepreneur, you are statutorily obliged to take employment pension insurance under YEL if the following conditions are met:
- You have turned 18. The upper age limit depends on your birth year.
- You have worked as a self-employed person for more than 4 months.
- Your earned income from the entrepreneurial activities is at least € 9,010.28 in 2024.
If you are engaged in part-time or in light entrepreneurship and you meet the above conditions, you need to take an YEL insurance. Please note that YEL insurance cannot be replaced by a voluntary pension insurance policy.
Online web service
Our online web service is simple and quick to use. Through the online service you can
- Print out YEL certificates
- Make changes to your YEL income
- Apply for an extended payment period
- Update your own contact information
- Change the invoicing interval.
And last but not least, you can safely contact your own insurance adviser.
What's new
Transfer your YEL insurance policy to Veritas!
You can give notice to cancel your YEL insurance policy on the last day of March, June, September or December, but you can send us the transfer application whenever you want. The transferred policy will be effective at Veritas three months after the notice. For example, a policy that is cancelled on 30 June will become effective at Veritas on 1 October.
The termination of your previous YEL policy simply requires that you complete the YEL transfer application form. The policy must, however, have been valid for a minimum of one year before you can transfer it to us.
We will handle the process of terminating the old policy with the previous company as soon as we have received your application.
The cost of YEL insurance is the same across the board, but not all insurers are the same. At Veritas, you will receive personal service that our customers value.
We welcome you to join us!
Contact us yel@veritas.fi
YEL contributions
YEL contributions are calculated on the basis of your confirmed YEL income. The amount of your contribution depends on your age, entrepreneurial history and number of instalments per year.
When you start entrepreneurial activities insured under YEL for the first time, you will receive a discount of 22 per cent on your YEL contributions for the first 4 years.
Contribution percentage of YEL income:
| Age | 2024 |
|---|---|
| 18–52 years | 24,1% |
| 53–62 years | 25,6% |
| 63–67 years | 24,1% |
YEL income
Your social security is based on the income confirmed for your YEL insurance. The amount of YEL income should be based on the value of your work input, not on your actual pay or the company’s turnover. A good rule for determining the value of your work input is to think of the salary that would be paid to an employee with the same professional experience as you have.
Year 2024 a minimum of 9,010.28 € per year and a maximum of 204,625.00 € per year.
Social security throughout your life
Life is unpredictable, so do not make any compromises when it comes to what matters most; namely, the social security of your family and yourself.
Your YEL insurance guarantees an income in case you fall ill or become disabled or unemployed. But it also plays a role in terms of positive events during your life, such as parental leaves and retirement with old-age pension.
Would you like to receive YEL invoices electronically?
- Inform us your company’s online invoicing address. Complete the form here.
- Or make an online payment agreement through your online bank service and choose Veritas as your invoicer.
You find more information regarding online invoicing on your operator’s or bank’s online service.
Is occupational accident and disease insurance mandatory for entrepreneurs insured under YEL insurance?
Occupational accident and disease insurance is generally voluntary insurance for those covered by YEL. Read more about it at www.tvk.fi.
As of 1 January 2016, the confirmed YEL income is used as the annual earnings for the voluntary accident insurance of self-employed persons.
Is the contribution percentage the same for all pension companies?
The contribution percentage for YEL insurance is the same regardless of the pension company.
The contribution percentage is confirmed annually by the Ministry of Social Affairs and Health.
Check the current contribution percentages.
Do I need a YEL-insurance even though I am not paying myself any wages?
YEL-insurance is based on your amount of work, and that is why you need to get an YEL-insurance even if you are not paying yourself any salary. Please contact us if you are considering the level of your YEL-income.
Are you thinking of retiring?
As an entrepreneur, your pension is calculated on the basis of your earnings under YEL insurance. The best way to ensure the right level of pension is to ensure that the YEL income stated in your insurance corresponds to the value of your work input for the entire duration of your entrepreneurial activities. Changes that occur close to your pensionable age will not have a significant impact on your pension.
As an entrepreneur, you can continue your entrepreneurial activities while receiving old-age pension, but as the obligation to insure under YEL will have ended and you will no longer have to pay YEL insurance contributions. You can, however, opt to take voluntary YEL insurance and continue to accrue further pension for yourself.
