Your YEL premiums are calculated according to your YEL earnings. The premiums are flexible. If you so wish, you can temporarily decrease or increase the premiums. YEL premium payments are fully tax-deductible.
All pension insurance companies apply the same YEL premium, which is confirmed by the Ministry of Social Affairs and Health.
|18–52 years||24.10 %|
|53–62 years||25.60 %|
|63–67 years||24.10 %|
Reduction for starting entrepreneurs (reduction 22%) |
|Starting entrepreneur 18–52 years||18.80 %|
|Starting entrepreneur 53–62 years||19.97 %|
|Starting entrepreneur 63–67 years||18.80 %|
|Insurance contribution interest rate||2.0 %|
The pension premium for self-employed persons aged 53–62 and over is higher, as a higher accrual rate is used to calculate their pension.
How many instalments? You can pay your YEL premiums in 1–4, 6 or 12 instalments. However, half of the payment months must be before August. The due date for the YEL premium is always the 20th day of the month or the first weekday after the 20th. The payment months can be easily changed on Etera's web service.
Struggling to make payments? If a premium payment is delayed, penalty interest will be calculated on it starting from the due date until the date on which the payment is made. The penalty interest is 8.50 % per cent.
If you are unable to pay your YEL premium on time, please contact our customer service. We can set up a YEL premium payment plan for you. Any unpaid YEL premiums will lower your pension. YEL premiums can be collected by way of enforcement.
Did you know this about the YEL premiums?
Starting entrepreneurs are eligible for a reduction
Flexible YEL premium payments
YEL premiums are fully tax-deductible
You can request an extended payment plan before the due date
What are a self-employed person's other social security premiums?