When do you need YEL insurance?
You need to take YEL pension insurance within six (6) months from the date on which you initiated entrepreneurial activities.
The insurance ensures the accrual of payable pension for your future retirement and provides financial security in case of disability or unemployment. It also safeguards your family’s livelihood by providing survivors’ pension security and affects your social security as regards, for example, the sickness and parental allowances granted by Kela.
The insurance can be taken retroactively for the current and three (3) previous calendar years. It is, however, wise to take the insurance within the initial six (6) months, since a policy initiated at a later point may result in an increased payment for the period of delay.
If you are unsure as to whether you need to have YEL insurance, please contact our Customer Service and we’ll help you to clarify your situation. We are available weekdays from 8 a.m.–4.30 p.m. at +358 (0)20 694 730.