What happens if your YEL income is reviewed?
/ Article
This year, the review of YEL incomes only concerns some entrepreneurs. For your income to be reviewed this year, all of the following conditions must be met:
• Your income has not been reviewed in 2024 or 2025
• It will be three years this year since your YEL insurance started
• You have not made any changes to your YEL income in the past three years.
During the review, Elo will help you assess your income by providing an income proposal, which you can conveniently respond to via Elo’s online service and explain your situation.
You will receive a proposal for a new income
You may receive a proposal for a new income during this year if you meet the above conditions. The reviews will start in June and continue until the end of the year, so you can wait for us to contact you.
You will be informed of the proposal by email or letter, depending on your chosen communication method. The income proposal can then be viewed in Elo’s online service. You have two weeks to respond to the income proposal.
Respond to the income proposal you receive
The income proposal is based on the median salary and turnover in your industry, as well as turnover data from the previous three years received from the tax authorities. The same background data are used by all pension companies.
When you log in to the online service, you can either accept the proposal or suggest a different income and provide justification. During the first two review rounds, you can also choose to accept an increase of only 4000 euros if the proposed increase is higher than this.
If the proposed income does not correspond to the value of your work input, describe your situation and the factors affecting it. If your business has continued in a similar way over the past few years, it may be best to accept the proposal so that your income reflects the value of your work input. Please note that the proposal may not take into account recent significant changes in the scale of your business.
Elo makes an overall assessment and a decision
Once you have responded to the income proposal, we will make an overall assessment of your income. In practice, when confirming your income, we will consider both the background information used in the proposal and any additional information you have provided.
If your income changes because of the review, you will receive a decision.
If you do not respond to the proposal, we may still adjust your income. In this case, your new income will be either the proposed income or your current income plus 4000 euros.
It has been agreed across the pension sector that if the recommended income differs significantly from the entrepreneur’s current income, it can be increased by a maximum of 4000 euros per review without the entrepreneur’s consent.
The new income comes into effect
If your income changes as a result of the review, the new income will come into effect at the beginning of the second month following the review. For example, if you receive an income proposal in June, your new income will come into effect at the beginning of August. If you pay YEL contributions monthly, the new income will appear on the invoice due on 20.8.2026.
The YEL calculator helps you assess your income
It is advisable to update your income in Elo’s online service whenever your entrepreneurial situation changes. However, we regularly review your income to ensure it keeps up with changes in your business and remains at the correct level. You benefit from YEL insurance and the correct income level at all stages of life. It is a statutory personal insurance that protects both you and your beneficiaries.
The YEL calculator helps you estimate a suitable income both at the start of your business and during it. With the calculator, you can see how your income affects your future pension and various social benefits. When you enter your industry and estimated turnover into the calculator, you will receive a recommendation for a suitable income. The recommendation is based on the average salary in your industry and your estimated turnover. The calculation of the recommended income uses the joint calculation service of all pension insurance companies.
This article was originally published in spring 2023. It has been updated with current information about income reviews in 2026 and some other sections of the text.