YEL insurance – security in various situations
Did you know that YEL has a much wider impact on an entrepreneur’s life than just the accrued pension? And that your YEL work income is not the same as your company’s revenue?
The entrepreneur’s pension insurance (YEL) is statutory when certain conditions are met. In addition to pensions, it determines, for example, your sickness allowance, parental benefits and voluntary occupational accident insurance compensation. YEL has a much wider impact on an entrepreneur’s life than just the accrual of pension.
Sufficient work income is key – it affects how much benefits you will receive from Kela (parental allowance, rehabilitation allowance) or pension in the future.
When determining the insurance level, note that YEL work income is not the same as the company’s revenue – estimate it realistically. You can do so using the YEL work income recommendation calculator: YEL work income estimate calculator – Työeläke.fi
