Elo’s Online Service for TyEL and YEL insurance management, Elo’s Online Pension Service, the online service agreement, online insurance applications will be inoperative on Saturday 14 September from 8 a.m. till 3 p.m. We apologize in advance for any possible inconvenience this may cause.

Payments and certificates

YEL contributions

Insurance contributions for 2019:

  • For those aged 18-52, the contribution is 24.10 % of the confirmed YEL income.
  • For those aged 53-62, the contribution is 25.60 % of the confirmed YEL income.
  • For those aged 63 and older, the contribution is 24.10 % of the YEL income as of the beginning of the year following the year in which the individual turns 63.

Brochures on contributions for 2019

Do you need a YEL certificate or payment extension?

Print certificates or request a payment extension for your invoices through Elo’s Online Service.

You can print or save the following YEL certificates from the Online Service:

  • Validity certificate
  • Validity and payment certificate
  • Income certificate
  • Income and payment certificate (e.g., as an attachment to an allowance application for the unemployment fund)
  • Certificate of paid contributions (for 2018)
  • Certificate of paid contributions (for 2017)
  • Record of the current payment situation

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.

Insurance contributions are entirely tax deductible

YEL insurance contributions are entirely deductible in taxation. As the deduction is family-specific, your spouse may also take the deduction for his/her own earned income. If the company has been designated as the payer for the YEL insurance, the payments are deductible in the company’s taxation.

Contribution due dates and delayed payments

YEL insurance contributions fall due on the 20th day of the agreed calendar months or on the next business day. If your contribution is delayed, a penalty interest shall be paid in accordance with the insurance policy terms from the due date until the date on which the payment is made. The Bank of Finland confirms the penalty interest biannually on 1 January and 1 July.

Electronic invoicing

The payment of insurance contributions is effortless when you take our electronic invoicing service into use. 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.

Submit your electronic invoicing information to Elo through our Online Service. 

If you do not have access to Elo’s Online Service, you can submit your electronic invoicing recipient details using the relevant form.

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, or 177,125.00 euro in 2019.

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.

Unpaid YEL contributions

You must pay all due employment insurance contributions within five years from the start of the year following the invoicing year. If this is not done, the payment will expire. Expired insurance contributions will reduce your overall YEL income amount and, eventually, the amount of your future pension. For each year, the YEL income amount will be reduced in proportion to the unpaid contributions.