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YEL insurance in 2023

The turn of the year will once again bring changes to the relevant figures for YEL insurance. We have compiled the essential information concerning the changes for 2023 below.

If you have any questions, we are happy to help you by phone at +358 (0)20 694 730 on weekdays 8 a.m.–5 p.m.

YEL law reform is progressing

The key points of the YEL reform are further specification of the determination of YEL income and the regular adjustment of the YEL income. The entrepreneur’s own report would continue to be essential in determining the YEL income.

We will inform our customers as the YEL reform progresses and its content becomes more specific.

Insurance contributions in 2023

The YEL insurance contributions will remain at the same level next year as this year, which is 24.10 % for people under 53 and over 63, and 25.60 % for people aged 53 to 62.

See social insurance contributions for 2023

The 5 most common questions self-employed persons ask about the YEL reform

 YEL insurance 2023

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YEL income in 2023

  • Minimum: 8,575.45 €/year
  • Minimum for unemployment security: 14,088.00 €/year
  • Maximum: 194,750.00 €/year

At the turn of the year, you should check whether YEL income is at the right level

Your YEL income must reflect the value of your work input in your company. In practice, this means the amount which would be paid to an equally skilled worker employed in the same job. 

YEL income is subject to an annual review with a salary coefficient, but no other adjustments are made to it. The change will be visible in the web service on 1 January 2023. You must take care of adjusting your YEL income yourself whenever there is a change in your entrepreneurial activities.

In addition to the old-age pension, your YEL income directly affects the level of different social benefits and pensions, so a proper YEL income provides you with protection already during your working life. By keeping your YEL income at the right level, you will ensure your livelihood during illness, parenthood and old age.

If your annual YEL income falls below the minimum threshold of unemployment benefit, EUR 14,088 (2023), you will not be able to join an unemployment fund and you will not be entitled to Kela’s basic unemployment allowance. An entrepreneur’s condition regarding previous employment does not accumulate for the period when YEL income is below the defined limit. 

You can deduct the YEL insurance contributions paid in taxation

As an entrepreneur, you can deduct your YEL insurance contributions from your own or your spouse’s tax when you have paid your own YEL insurance contribution. Please note that, as an entrepreneur, you must take care of the deduction of YEL contributions in taxation yourself. The payment information is not forwarded from the pension company to the Tax Administration. If necessary, you can get a printout of the YEL contributions paid from Elo’s online service. YEL insurance contributions can be deducted as company expenses if your company has paid the YEL insurance contributions.

Handle your matters through Elo’s online service

In Elo's online service you can

  • print out certificates
  • request a payment extension for an invoice
  • adjust the income amount as well as
  • report any changed information.

Take the online service into use >

Log in to the online service >

Are you receiving electronic invoices?

If your company has an e-invoicing address in use, you can enable it through our online service. Remember to log in to Elo’s online service as a corporate customer.

Take electronic invoices in to use >

Log in to the online service >

Are you planning to hire an employee?

When you, as an employer, hire an employee into a contractual employment relationship, you assume the obligation to insure that individual under a statutory TyEL insurance policy.

Find out more and take TyEL insurance >
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