Starting as an entrepreneur and YEL

YEL is a statutory pension insurance for entrepreneurs. It is the most important insurance for entrepreneurs and forms the basis for your pension and social security. YEL gives you peace of mind and financial security for you and your family in different life situations.

An entrepreneur’s employment pension accrues in accordance with the confirmed YEL income. In addition, YEL income affects entrepreneur’s social security like sickness allowance, family benefits, and unemployment allowance. At Elo, your insurance protection is our main priority, so you can focus on what you enjoy and do best.

You must get YEL insurance if:

• You are 18–68 years old and work as an entrepreneur in Finland.
• Your YEL income is at least 9,423.09 euros per year in 2026 (about 786 euros per month).
• You work in your own company.
• Your entrepreneurship lasts at least 4 months, or you are a seasonal entrepreneur.

You must get YEL insurance within six months after these conditions are met. This requirement also applies to light entrepreneurs and part-time entrepreneurs.

If you have several companies, you only need one YEL insurance. In this case, your YEL income is calculated based on the total income from all your businesses.

It is important to get YEL insurance on time. If you get YEL insurance over six months late, you may have to pay an additional fee for the delay.

The cost of YEL insurance depends on your YEL income.

These things affect the price:

• Your YEL income – You can join the unemployment fund if your YEL income is at least 15,481.00 euros per year in 2026.
• Discount for new entrepreneurs – You get a 22% discount for the first 48 months.
• Payment method – The fee is lowest if you pay the whole year at once in January.

YEL insurance fees are tax-deductible. You can use Elo’s YEL calculator to estimate your YEL income and see the price.

YEL gives you security in all life situations. It affects not only your old-age pension but also your social security.

Based on your YEL income, you get:

• Sickness allowance, unemployment benefit, and parental allowance from Kela
• Earnings-related unemployment allowance (if you are a member of the entrepreneur’s fund)
• Compensation for loss of earnings from accident insurance
• Vocational rehabilitation
• Disability pension
• Family pension
• Partial old-age pension and old-age pension

Elo is Finland’s most popular provider of entrepreneurs’ pension insurance.

About 40% of entrepreneurs have chosen Elo. Here’s why:

1. You are important to us. We ensure you receive personal service the way you need.
2. Fast service. You can manage insurance matters easily through our online service anytime. On the phone, we resolve 93% of issues in just one call.

We believe entrepreneurs are essential for Finland’s future. Whether your company is big or small, growing or stable, we will take care of your financial security now and in the future. We keep you up to date and explain things clearly. Let’s take care of your pension matters together so you can focus on your business.

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