Who has to take out YEL insurance?

Take out YEL insurance if all of the following statements apply to you.

  1. I am between 18 and 67 years old
  2. I have been self-employed for at least 4 months continuously
  3. I have an income of at least €9,010.28 in 2024
  4. I work in a company I own
  5. I work in a job that is not covered by another pension scheme.

Taking out the insurance is also affected by how much work you do and how much you own of your company. YEL insurance is often the right option even if you work temporarily abroad as an entrepreneur. If your family members work in your business, they may also need YEL insurance. If you are retired and continue to work as an entrepreneur, YEL insurance can be either compulsory or optional.

Do you invoice the public sector without YEL insurance?

According to Keva's guidelines, a pension insurance contribution must always be paid for work done for the public sector, even if the self-employed person is not obliged to take out YEL insurance due to the small scale of their activities. Therefore, your public sector client may ask for a certificate of YEL insurance.

If you have not taken out YEL insurance, the municipality will cover your work according to JuEL (Public Sector Pensions Act). JuEL insurance accounts for approximately 6-8% of the invoice. More information can be found on Keva’s website Ostopalvelut, työkorvaukset ja muut toimeksiannot (in Finnish)