Siirry suoraan sisältöön

Entrepreneurs

Veritas is the best pension insurance partner for entrepreneurs. We provide you with personalised service that is proven to be the best in the branch. At Veritas, all YEL customers are assigned their own contact person and your calls are never answered by a robot.

We are genuinely bilingual. Would you like to be one of Finland’s most satisfied pension insurance customers?

Contact us Phone 010 195 612 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 are 18–67 years old
  • You have worked as a self-employed person for more than 4 months
  • Your earned income from the entrepreneurial activities is at least
    7,958.99€ per year in 2020 or 8,063.57€ in 2021

If you are engaged in part-time or in light entrepreneurship and you meet the above condotions, you need to take an YEL insurance. Please note that YEL insurance cannot be replaced by a voluntary pension insurance policy.

More about YEL insurance

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.

Start using our online service (link in Finnish)

Start using our online service (link in Swedish)

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 the best pension insurance service in Finland.

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 2020 2021
18–52 years 24.1% 24.1%
53–62 years 25.6% 25.6%
63–67 years 24.1% 24.1%

More about YEL contributions

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 2020 a minimum of 7,958.99€ per year and a maximum of 180,750.00€ per year.

Year 2021 a minimum of 8,063.57€ per year and a maximum of 183,125.00€ per year.

More about YEL income

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.  

More about social security based on YEL income

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.

Frequently asked questions

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 to take YEL insurance even though I do not pay myself any salary or wages?

Since it is your work input that is insured under YEL, you will need to take YEL insurance even though you don’t receive any salary/wages.

If you are uncertain about what is the proper level of the YEL income for you, please contact us and we’ll help you proceed.

Are you thinking of retiring?

  • As an entrepreneur, you determine your own YEL income amount, thereby affecting the amount of your future pension. The best way to ensure your livelihood during retirement is to make sure that your YEL income as at an appropriate level throughout your years as an entrepreneur. You can estimate the amount of your future pension and view the impact of changes to your YEL income using our YEL calculator.

 

  • As an entrepreneur, you can also continue your entrepreneurial activities during retirement on old-age pension, but once your obligation to insure ends, so does the requirement to pay YEL contributions. If you wish to continue working during retirement, you can opt to voluntarily take YEL insurance, thereby accruing a higher pension for yourself.

Pension


Veritas is a pension insurer for entrepreneurs.

Always personal service - also online.

Take out YEL insurance