Can YEL-payments be altered?

Yes, absolutely. YEL payments can be changed accordingly when your revenues are growing or shrinking. The pension contributions are not, however, to be delayed in order to maintain balanced finances. Entrepreneurs often postpone YEL payments when their income lowers unexpectedly. This is not recommended as it will cause a wide range of problems in the future. Future YEL bills can be reduced by applying for payment flexibility or changing the amount of YEL income. Maturing bills can no longer be influenced, and they just have to be paid. YEL income should also be increased when the company is doing well.

Even if you have open YEL payments, you can change your earned income by contacting your occupational pension company or insurance fund. You must declare the factors that affect your income in the application. You will then receive a decision on your application that you can make a complaint about if need be. You will not incur any extra expenses in changing your earned income and amendments can be made as many times as necessary as there are no limits to the number of allowed changes.

It is possible to utilize YEL insurance payment flexibility even if your income remains the same. Even if your fees are subject to downward flexibility, Kela benefits will remain in accordance with the confirmed income level. Payment flexibility can be agreed with the pension institution. Payment flexibility is valid for one calendar year and can be used up to three times in a seven-year period. Upward flexibility limits are 10-100 per cent of the insurance premium and downward flexibility 10 to 20 per cent of the insurance premium. Payment flexibility cannot be utilized if the entrepreneur has unpaid YEL payments.

An entrepreneur is obliged to pay YEL if their work does not occur in an employment or service relationship. Other conditions are 18-67 years of age, a minimum of four months of operations and an estimated minimum annual income of EUR 7 502.