When do I need YEL insurance and how can I get it?

Entrepreneur's pension insurance (YEL) is the most important insurance for every entrepreneur and it secures a living in unexpected situations and accumulates a pension.

As an entrepreneur, you are responsible for your own pension security. YEL insurance is the basis of an entrepreneur's pension and social security, which is why taking it is statutory, i.e. mandatory.

You are obliged to take out YEL insurance if:

• You are 18-69 years old (for those born in 1957 or earlier, the upper age limit for old-age pension is 68 years, for those born in 1958-61, 69 years and younger, 70 years old)
• Your operation lasts at least four months and
• The estimate of your YEL work income, i.e. your work input, is at least 9,010.28 euros per year and 750.86 euros per month (2024).

If you don't have YEL insurance yet, you can easily apply for YEL insurance from your own UKKO account.

If you are a new entrepreneur, i.e. taking out YEL insurance for the first time, you will receive a 22% discount on your YEL payments. The discount is valid for the first four years of your YEL insurance, i.e. 48 months.