Information about YEL insurance
Insurance taken in accordance with the Self-employed Persons’ Pensions Act (YEL insurance) serves as the foundation for the pension and social security of entrepreneurs. YEL insurance is a statutory insurance and cannot be replaced by voluntary pension insurance. The insurance must be taken from the date on which the entrepreneurial activities meet with the conditions prescribed in the law. The insurance can also be taken retroactively, however within six months from the date on which the entrepreneurial activities began.
YEL safeguards you and your family
When establishing your own business, social security issues may fall by the wayside as you seek to deal with other important issues. As a self-employed person, it is, however, extremely essential that you take the necessary measures to safeguard your future already at the start of your activities.
YEL insurance is a great deal more than just pension insurance, since it serves as the basis for the support and social security of all those who are self-employed. In addition to security for your retirement, it will also safeguard your livelihood and that of your family in case your business activities are interrupted for some reason.