Entrepreneur’s pension insurance
The entrepreneur’s pension insurance policy, i.e. YEL insurance, is the basis of entrepreneurs’ social security. It is a statutory insurance policy you are obliged to take out if you are an entrepreneur aged 18–69, your business activities will continue for at least 4 months and your estimated annual YEL income is at least 8575,45 euros (in 2023). You should take out the insurance policy as soon as you fulfil the criteria but no later than within 6 months of starting the business activities subject to the Finnish Self-employed Persons’ Pension Act. You may not replace the statutory YEL insurance by taking out a voluntary pension insurance policy.