In what situations should you adjust your YEL income?
If there are changes in your entrepreneurial activities that affect the amount of your work input, your YEL income should also be re-evaluated. This can refer to, for example, a change regarding part-time or full-time work. It is not possible to change the YEL income retroactively, so you should notify of any changes as soon as possible. The YEL income cannot be changed on the basis of the profitability of your business and it is not affected by temporary fluctuations in the amount of income. The easiest way to notify of changes is to go to Elo’s Online Service.
From the beginning of 2023, pension companies will review and adjust the YEL income of self-employed persons every three years to make sure it is up-to-date. When reviewing your YEL income, we will consider, for example, the turnover of your business over the past three years. If your YEL income is subject to a review, we will contact you and propose a new YEL income. You can influence the adjustment of your YEL income by responding to our proposal and providing details with regard to the current extent and quality of your entrepreneurial activities.