YEL insurance for small business owners
All your business finances in one place. Get YEL, the entrepreneur’s pension insurance, easily through Holvi today.
How to get YEL insurance
- Click Buy YEL. The page will open in a new tab.
- Log in with your online banking credentials or mobile ID.
- Fill in the requested information on the application form. Done!
Workload and age matter
Who needs YEL insurance?
As an entrepreneur, you need YEL insurance because you are personally responsible for your pension coverage. Your are required to take out YEL if:
- Your annual income is at least 9 208,43 € in 2025 (about 767 €/month)
- You operate as an entrepreneur for at least 4 consecutive months
- You are 18–68 years old and run a business in Finland
- You work in your own company
More than just a pension
YEL is the basis of an entrepreneur’s social security
YEL is the entrepreneur’s pension insurance. But in addition to your pension, YEL protects you in other situations. Your YEL contributions also determine:
- Parental allowance
- Unemployment benefits
- Sickness allowance
- Survivors’ pension
- Disability pension
- Partial early old-age pension
How much does YEL cost?
Your YEL income determines the price
The cost of YEL insurance is always specific to each entrepreneur, as the contribution amount depends on your YEL income. YEL income refers to the assessed monetary value of your work contribution – it is not the same as the salary you withdraw from your business, but rather an overall estimate of the value of your work. When defining your YEL income, the following factors are considered:
- Number of working hours
- Company turnover
- Possible seasonality of the business
- Number of employees
Did you know?
Discounts and tax deductions for new entrepreneurs
Did you know that it’s best to take out YEL insurance as soon as you meet the eligibility criteria? The insurance can also be applied retroactively from the date when your entrepreneurial activity (that meets the YEL requirement) began. A few tips:
- When you start a business for the first time, you get a 22 % discount on your YEL contributions for the first 480 months
- Contributions can be paid in installments: 1, 2, 3, 4, 6 or 12 times per year
- YEL contributions are tax-deductible – you can deduct on your own, your company’s, or your spouse’s taxation.
- You can adjust your YEL income even in the middle of the year, but changes cannot be made retroactively
A reliable partner
In Finland, around 40 % of entrepreneurs have chosen Elo as their pension insurance company. Entrepreneurs say they receive excellent service from Elo – quick and easy, both by phone and online.
Do you already have YEL?
If you want to transfer your YEL insurance to Elo, you can also do that easily through Holvi. The insurance can be transferred starting from the first day of January, April, July, or October by submitting a transfer application via Holvi three months before the transfer date. The transfer is possible once your YEL insurance has been valid for at least one year with your current provider.
- Click Buy YEL
- Fill in the requested information
- We’ll take care of transferring your YEL insurance to Elo
Frequently asked questions
You need YEL insurance if your annual income is at least 9 208,43 €, you work as an entrepreneur for at least 4 consecutive months, you are 18 to 68 years old, you run a business in Finland, and you work in your own company.
If your entrepreneurial activity is so small-scale that your YEL income falls below the minimum threshold, you can choose to take out voluntary YEL insurance.
In addition to YEL insurance, you can take out other voluntary insurance policies to support and protect you business. These include, for example, disability insurance, health insurance for entrepreneurs, legal expenses insurance, and accident insurance.
YEL income refers to the monetary worth of an entrepreneur’s work contribution. It does not directly mean the salary you withdraw from your business. Instead, it represents the overall value of your work. For example, you might receive capital income as compensation for your work contribution or enjoy various fringe benefits from your company – in which case your cash salary alone does not tell the whole story.
When assessing YEL income, the following factors are taken into account: your working hours, company turnover, industry, possible seasonality of the business, and the number of employees.
YEL income is always defined as an annual sum. To make the calculation easier, first estimate the monthly value of your work contribution and then convert it into an annual figure.
If changes occur in your business that affect the amount of your work contribution, you should notify your pension insurance company as soon as possible so your YEL income can be adjusted to the correct level. Such a change can be, for example, moving from part-time to full-time entrepreneurship.