As an entrepreneur, you determine YEL income estimation when you take out YEL insurance. Income estimation is the value of your own work input on an annual basis. You estimate your income estimation yourself and the pension insurance company confirms it.
Officially, income estimation is defined as follows: "Your YEL income estimation should correspond to an annual salary that would be paid for the same job to another person as skilled as you are."
Income estimation must be defined at the right level from the beginning according to your income. In addition to the pension, your social security is calculated according to your this estimation, ie if you fall ill or remain on parental leave, your estimation determines the amount of your daily allowance. The minimum YEL income estimation is 8 575,45 € and the maximum 194 750 €.
As a light entrepreneur, the correct level of YEL income estimation is considered from your gross salary. YEL income estimation is an estimate of your gross salary on an annual basis from the start date of the insurance or the change of income estimation onwards. You can compare your past gross earnings and use them to think about how much your annual estimate could be.
YEL income estimation can always be changed if your income level changes permanently. You can make a change to it from the YEL page of your own UKKO account when you have taken out a YEL insurance through UKKO.fi or through Varma's eService (www.varma.fi -> log in). Estimation cannot be changed retrospectively, but always from the date of notification. If your estimation differ greatly from your gross salary during the year, you can make an appeal through Varma eServices.
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