Selecting your insurance level

As a member in the Entrepreneur Fund you choose the level of your unemployment security yourself. At lowest you must choose an insurance level of at least € 14,803 and at most a sum equal to the annual work income, which your pension insurance- YEL, MYEL or TyEL- is based on.

You can add up your YEL and MYEL work income and your TyEL salaries earned as an entrepreneur to determine your insurance level with the Entrepreneur Fund.

Please note that dividends or private withdrawals do not affect your work income and the same applies to earnings confirmed in taxation

For TyEL insured part-owners or entrepreneur’s family members, your annual TyEL salary sets the maximum level for your insurance with the Entrepreneur Fund. For TyEL insured persons, this refers to the sum of salaries actually paid subject to pension insurance. If you also have YEL or MYEL work income, you can add these up to determine your level.

Members are responsible for updating the insurance level

The Entrepreneur Fund does not receive updates from your pension insurance provider, so you are responsible of informing the fund of any changes to the insurance yourself.

The easiest way of updating your insurance level is to fill in an electronic form on our website. You may also update your insurance level as well as any other information pertinent to your membership via our eService (eAsiointi) or by e-mail or post. Log on to the eService on the front page our website

Please include the following information in your written update:

  • Name and either your telephone number or e-mail address
  • Date of birth or member ID (your ID number is printed on your invoice)
  • your new insurance level and the date form which onwards you want the new level to be used

You cannot as a rule, make changes to your insurance level retroactively and if you raise the insurance level is valid from the start of the next full calendar month.

Entrepreneurs under TyEL however have the right to update their insurance level at the end of each year when the gross annual income for the year is finalized.

Your insurance level is automatically updated every year with the wage-coefficient for members insured under YEL or MYEL. You have the right to opt out from the automatic updates with a written notification to the fund.

Daily allowance is based on your insurance level

Earnings-related allowances are calculated based on your pension insurance level or an average of your pension insurance levels over the last 15 months prior to termination of your entrepreneurial activities. The insurance level chosen in the fund cannot exceed the annual income used as foundation for your pension insurance contributions.

Should your pension insurance income level and/or the income level you have reported to the Entrepreneur Fund have varied, unemployment allowance based on a monthly average of your income levels during the past 15 months prior to unemployment will be paid.

As provided for in the Unemployment Security Act, a maximum increase of 20 per cent can be observed within a 15-month period. If you decide to increase your insurance level more than 20 per cent, you must maintain this increased level for at least 15 months to allow for any portion of the increase exceeding 20 per cent to be observed when determining your earnings-related unemployment allowance level.