Many entrepreneurs may be familiar with the term YEL insurance, but what exactly does it cover and why is it necessary?
YEL, or entrepreneurs' pension insurance, is statutory and therefore compulsory. It allows you to accumulate a working pension for the future and provides security in the event of illness, parental leave, or unemployment, for example. It forms the basis of your entire social security.
Is a light entrepreneur liable for YEL?
Yes, light entrepreneurs are also subject to YEL if the following conditions are met:
- You are between 18 and 68 years old (the upper age limit for compulsory insurance depends on your year of birth).
- You have been working as a light entrepreneur for at least 4 consecutive months.
- Your income exceeds the lower limit, which is €9,423.09 in 2026.
- You live and work in Finland.
How do I check whether I meet the YEL income limit?
If you are unsure about your earnings, you can easily check them Truster:
1. Open the Truster
2. Go to the menu and select "Salaries."
3. Check the section “From the beginning of the year.” If the amount exceeds the YEL income limit, you must take out insurance.
Please note that if you have used other billing services, remember to include the income you have earned through them.
How do I get YEL insurance?
We work in cooperation with Ilmarinen. To make managing your insurance as easy as possible for you, we take care of the payments from your salary, so you don't have to worry about separate invoices.
1. Open the Truster app and click on “Get YEL insurance” in the menu.
2. Log in with your bank credentials and fill in the information.
3. Truster information about the insurance and automatically deducts the premiums from your salary.
PS. Did you know that as a new entrepreneur, you are eligible for a 22% discount on your YEL contribution for the first 48 months?