Entrepreneur Fund membership fee to be cut
The Financial Supervisory Authority has confirmed the Entrepreneur Fund’s proposal for membership fee for 2022. As per our proposal, next year our membership fee will be 2,1 % of the share of any yearly work income exceeding Euro 5,800. So, at its lowest, the Entrepreneur Fund’s tax-deductible membership fee will be Euro 13,60 per month, i.e., Euro 163,23 per year.
According to Fund Manager Merja Jokinen, lower unemployment rates as well as favourable economic development within the fund enabled lowering membership rates. Among fund members, unemployment rates did not burst to meet the worst expectations during the corona period, and general unemployment rates have clearly declined. Right now, unemployment rates are on the same level where they were during the later part of 2019, before the corona pandemic hit.
”Economic outlooks for 2022 are also moderately good, and we do not expect unemployment rates to pick up to any significant extent during next year”, Merja Jokinen says.
Along with reduced unemployment numbers, Merja Jokinen underlines the fact that the fund’s economy is on a solid basis. ”We have been working systematically to enhance the fund’s financial solidity to a level, where surprisingly increasing unemployment rates will not put pressure to increase membership fees on a short-term basis”, Merja Jokinen says.
”We also try to keep our membership fee as stable as possible to avoid any surprising yearly increases”, the Fund Manager continues.
According to Merja Jokinen, any grounds for reducing membership fee levels are always based on careful consideration in order to avoid having to go back to increased fees next year. ”The corona period was exceptional and a source of uncertainty, but we strongly believe that we will slowly be going back to more normal conditions.”
Increased lower limit for entrepreneurs’ unemployment security
The lower income limit required to obtain entrepreneurs’ unemployment security will also change next year as a result of a change in the correction coefficient applied. The lower income limit for accumulating the work requirement set for entrepreneurs is Euro 13,573 per year. In other words, as an entrepreneur, you are covered by unemployment security and you can buy insurance from the Entrepreneur Fund, if the work income which your pension insurance (YEL or MYEL work income or partial business owners’ TyEL salary) is based on is at least Euro 13, 573 per year.
Examples of work income, membership fee and daily allowance in 2022
In accordance with the above decision by the Financial Supervisory Authority, next year, our membership fee will equal 2,1 percent of the share of your yearly work income exceeding Euro 5,800, which your unemployment insurance is based on. What is the easiest way to find out what this means in your case? There is a simple calculation formula.
Example: If your yearly work income is Euro 20,000, first deduct the sum 5,800. Now you have 14,200, of which 2,1 percent is 298,20. This amount, Euro 298,20, will be your yearly membership fee. Membership fees are deductible in your personal taxation.
| Work income | Membership fee | Membership fee | Daily allowance | Daily allowance | Income-related daily allowance vs. basic allowance paid by Kela |
| €/year | €/month | €/year | €/day | €/month | €/month |
| 13,573 | 13,60 | 163,23 | 42,65 | 916,98 | 175,23 |
| 14,000 | 14,35 | 172,20 | 43,39 | 932,89 | 191,14 |
| 15,000 | 16,10 | 193,20 | 45,14 | 970,51 | 228,76 |
| 16,000 | 17,85 | 214,20 | 46,88 | 1,007,92 | 266,17 |
| 17,000 | 19,60 | 235,20 | 48,63 | 1,045,55 | 303,80 |
| 18,000 | 21,35 | 256,20 | 50,37 | 1,082,96 | 341,21 |
| 19,000 | 23,10 | 277,20 | 52,11 | 1,120,37 | 378,62 |
| 20,000 | 24,85 | 298,20 | 53,86 | 1,158,00 | 416,25 |
| 21,000 | 26,60 | 319,20 | 55,60 | 1,195,40 | 453,65 |
| 22,000 | 28,35 | 340,20 | 57,35 | 1,233,03 | 491,28 |
| 23,000 | 30,10 | 361,20 | 59,09 | 1,270,44 | 528,69 |
| 24,000 | 31,85 | 382,20 | 60,84 | 1,308,06 | 566,31 |
| 25,000 | 33,60 | 403,20 | 62,58 | 1,345,47 | 603,72 |
| 26,000 | 35,35 | 424,20 | 64,32 | 1,382,88 | 641,13 |
| 27,000 | 37,10 | 445,20 | 66,07 | 1,420,51 | 678,76 |
| 28,000 | 38,85 | 466,20 | 67,81 | 1,457,92 | 716,17 |
| 29,000 | 40,60 | 487,20 | 69,56 | 1,495,54 | 753,79 |
| 30,000 | 42,35 | 508,20 | 71,30 | 1,532,95 | 791,20 |
| 32,500 | 46,73 | 560,70 | 75,66 | 1,626,69 | 884,94 |
| 35,000 | 51,10 | 613,20 | 80,02 | 1,720,43 | 978,68 |
| 40,000 | 59,85 | 718,20 | 88,09 | 1,893,94 | 1,152,19 |
| 45,000 | 68,60 | 823,20 | 91,97 | 1,977,36 | 1,235,61 |
| 50,000 | 77,35 | 928,20 | 95,85 | 2,060,78 | 1,319,03 |
| 55,000 | 86,10 | 1,033,20 | 99,72 | 2,143,98 | 14,02,23 |
| 60,000 | 94,85 | 1,138,20 | 103,60 | 2,227,40 | 1,485,65 |
| 65,000 | 103,60 | 1,243,20 | 107,47 | 2,310,61 | 1,568,86 |
| 70,000 | 112,35 | 1,348,20 | 111,35 | 2,394,03 | 1,652,28 |
| 75,000 | 121,10 | 1,453,20 | 115,23 | 2,477,45 | 1,735,70 |
| 80,000 | 129,85 | 1,558,20 | 119,10 | 2,560,65 | 1,818,90 |
| 85,000 | 138,60 | 1,663,20 | 122,98 | 2,644,07 | 1,902,32 |
Daily allowance paid by the fund is inclusive of basic daily allowance, Euro 34,50. Unemployment daily allowance receivers supporting children under 18 years will be paid daily allowance plus child increase, which amounts to Euro 5,41 for one child, a total of Euro 7,95 for two children and a total of Euro 10,25 for three or more children.
