Payments and certificates
YEL insurance contribution 2023
The Ministry of Social Affairs and Health annually confirms the contribution percentages according to which the YEL insurance contributions are calculated. In 2023, the YEL insurance contribution is:
- For those aged 18–52, 24.10% of the confirmed YEL income.
- For those aged 53–62, 25.60% of the confirmed YEL income.
- For those aged 63 and older, 24.10% of the YEL income from the beginning of the year following the year in which the individual turns 63.
You can calculate an estimate of your YEL contribution using Elo’s YEL calculator.
Do you need a YEL certificate?
You can print or save the following YEL certificates from our Online Service:
- Validity and payment certificate
- Yel income certificate
- YEL income and payment certificate (e.g., as an attachment to an application for an allowance from the unemployment fund)
- Certificate of paid contributions (in 2021 and 2022)
- Record of the current payment situation
You can also fill in your information for electronic invoicing at our Online Service.
Reduced contributions for starting entrepreneurs
As a starting entrepreneur, you are entitled to a 22 per cent discount on your YEL insurance contributions for the first 48 months of your business activities.
If your initial YEL insurance policy started after 1 January 2001 and you still have months of discount remaining, those months of discount are applicable to your second YEL insurance. The discount cannot, however, be applied to a third YEL insurance period, even if the total amount of the discount periods is less than 48 months.
The first time that you transfer from TyEL to YEL coverage, your entrepreneurial activities are considered to have begun on the date of transfer.
You are not entitled to the discount for starting entrepreneurs if the Finnish Centre for Pensions has been compelled to take a YEL insurance policy on your behalf as a result of your negligence.
Did you know that your YEL contributions are tax-deductible?
Useful information about YEL contributions
The payment of insurance contributions is effortless using our electronic invoices. It enables you to receive your insurance invoices directly to your company’s invoice processing system or online banking service. If you would like eInvoices to come to your own personal online banking service, you need to sign an agreement for eInvoicing with your own bank. You can also elect to receive invoices to your email or to the OmaPosti service.
Submit your electronic invoice information to Elo through our Online Service. If you do not have access to Elo’s Online Service, you can submit your electronic invoice recipient details using this form.
Read the instructions on how to take electronic invoice into use >
- Any wages or salary paid to the owner of a limited liability company shall be reported to the Incomes Register (in the same way as the earlier notifications submitted to the tax authorities).
- Any private withdrawals made as a sole proprietor are processed in the bookkeeping for the sole proprietor and reported in tax returns.
- No obligation to insure (earnings-related pension insurance)
- No obligation to insure (accident and occupational disease insurance)
- No obligation to insure (unemployment insurance)
The wages or salary paid to an entrepreneur are marked as being subject to paying health insurance contributions, so under the Type of exception to insurance, the following cannot be selected: No obligation to insure (earnings-related pension, health, unemployment or occupational accident and disease insurance), because this would exclude all social insurance contributions.
The YEL insurance policy number, the Business ID of the pension provider and the pension policy number are not reported to the Incomes Register.
Flex pay for YEL insurance contributions
You can accrue additional pension for yourself during good financial years by paying a higher YEL contribution or opt to reduce the contribution during less profitable years. This is referred to as the YEL flex pay system. YEL flex pay temporarily decreases or increases your insurance contributions for one calendar year at a time.
Flex pay is possible if:
- Your YEL insurance policy is valid for the entire year in the same pension company
- There are no outstanding payments on your YEL insurance policy
- You are not yet receiving employment pension from Finland
- You are not receiving the discount for a starting entrepreneur.
You can pay an additional contribution every year, if you want, but you can only decrease your contribution, at the most, three times within a seven-year period. The combined total of the additional contribution and your YEL insurance contribution must not exceed the maximum for YEL income 194,750.00 euro in 2023.
Additional contributions are tax deductible either for the company or the entrepreneur, as determined by the payer information submitted to the pension company.
Flex pay only concerns the YEL income that serves as the basis for your future pension, it does not affect other social benefits, such as the sickness allowance, that are determined in accordance with the confirmed YEL income based on work input.
Check the flex pay amount and fill out a flex pay application in Elo’s Online Service.