Many entrepreneurs may be familiar with the term YEL insurance, but what exactly does it cover and why is it necessary?
The YEL, or Self-Employed Persons' Pension Insurance, is a statutory and therefore compulsory insurance. It is a way of building up an occupational pension for the future and provides security during periods such as illness, parental leave or unemployment.
Is a sole trader liable for YEL?
Yes, a self-employed person is also liable for YEL if the entrepreneur meets the following conditions:
✅ You are 18-68 years old
✅ You are self-employed for at least 4 months continuously
✅ Your earnings exceed 9 208,43 € / year (2025)
✅ Living in Finland
Do you recognise yourself? Then it's time to get your YEL up to date - easily through Truster. 🙌
How do I check if I meet the YEL income limit?
1. Open the Truster
2. Go to the menu and select "Company details".
3. Open "Downloadable reports" and select "Income statement".
4. Set the time interval to the whole year.
5. Under "Result", check the total result for the year.
- If the amount exceeds the YEL income limit, you must take out YEL insurance.
Please note that if you have worked as a light entrepreneur, remember to include the income you earned as a light entrepreneur. The same applies if you have used other billing services.
How do I get YEL insurance?
We work closely with the pension insurance company Elo to offer the best service to our entrepreneurs, also for YEL insurance. This makes taking out and managing your insurance through Truster easy and hassle-free.
1. Go here and click on 'Get YEL insurance'.
2. Authenticate with a mobile certificate or online banking credentials.
3. Fill in the requested information.
4. Truster receives information that you took out YEL insurance through Elo.
5. Truster deducts the YEL insurance from your salary.
Truster will take care of everything for you regarding your YEL insurance. Don't stress about paying the bills, we'll pay them directly from your salary. If you already have YEL insurance but want us to handle the payments for you, you can transfer the insurance to Truster.
Get YEL insurance from Truster in minutes!
Guide to obtaining YEL insurance
PS. Did you know that a new entrepreneur is entitled to a 22% discount on the insurance price for the first four years?