Insurance under the Self-Employed Persons Pensions Act (YEL) is, as the name implies, insurance that accrues pension based on the level of your confirmed YEL income. The insurance and the level of income set in it also affect your social security benefits, such as daily sickness allowance and parental allowance. YEL insurance also includes survivors’ pension and provides security in the event of disability and unemployment. By keeping the amount of your YEL income up to date you ensure a sufficient amount of pension as well as an adequate level of benefits and security that you might need even before you retire.
Whom does the review concern, when will the review letter be sent, and what can be done ahead of time?
This year, incomes over EUR 25,000 in YEL insurance policies that began before 1 January 2023 and YEL insurance policies that have not been reviewed since 1 January 2023 will be reviewed. If your YEL insurance is scheduled for review this year, you will be able to see this information at the end of April in the Varma Online Service, under the tab Decisions and documents.
We will start sending this year’s review letters in May and June, but some customers might only receive the letter in October. Unfortunately, we are unable to give more detailed information about the date of your review.
Please note that you will receive documents related to the income review electronically if you have opted for paperless service in the Personal details section of the Varma Online Service. If you have not opted for paperless service, we will send you a letter by post. We therefore recommend that you review and, if necessary, update your address and contact details in the Varma Online Service to ensure you receive important information.
“We have put in a lot of development work in the previous income review years to ensure that our YEL income recommendations are as accurate as possible. We have received positive feedback on how easy the reviews have been and for providing customers with assistance when needed,” says Insurance Services Director Riikka Nivus.
If you would like to see in advance how YEL income reviews work, you can find answers to the most frequently asked questions on our page YEL income review – Varma.
“All in all, there are still challenges in defining YEL income, and we therefore consider it important that an assessment of the development needs of the YEL system has been initiated. As we await improvements, we are making the current operating model as easy as possible for our roughly 12,000 YEL customers whose income will be reviewed this year,” says Nivus.
For a quick look at the review process, check out this video. (1 min)
This is how we will review your YEL income
How does the YEL review proceed?
If, based on the information available to us, your YEL income is at the statutory level, in other words corresponds to the wages or compensation that would have to be paid to an outside person for performing your work, or if your YEL income would change by no more than five per cent from its current level, we will send you a notice stating that a review has been carried out and your confirmed income will not be changed.
Otherwise, we will propose a new YEL income for you. Due to the protective provision of the law, the maximum increase is EUR 4,000. If you accept the proposed YEL income, no action is required from you.
- Respond immediately if you disagree with our proposal or notice a mistake in the review’s background information. Within two weeks, send us a written account of what you think the amount of your YEL income should be and of the factors affecting the value of your work input, such as the amount of your work input, the scope of your entrepreneurial activities, and your work tasks and professional skills.
- If you want to raise your YEL income by more than EUR 4,000, you can select the right level of YEL income from the recommended YEL income range in the Varma Online Service.
If your YEL income is raised, the increase will take effect at the start of the second calendar month after the month in which the review was started. For example, if the income review begins in June, your YEL income level can be changed as of 1 August 2025.
NB! If you apply to change your YEL income before the review starts, Varma is obligated to immediately adjust your YEL income to the legal level. Your confirmed YEL income may therefore deviate from the level of YEL income you are applying for, and your YEL income may be increased by more than EUR 4,000. Read more on our instructions page What if I apply for a change in my YEL income before the review?