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YEL insurance does not only affect your future pension. Your YEL income forms the basis of an entrepreneur’s social security and influences benefits such as sickness allowance, parental allowances, unemployment security and disability pension. For this reason, your YEL income should reflect the actual value of your work contribution as accurately as possible.

If the income level is set too low, your financial protection may be significantly weaker if you become ill, take parental leave or are unable to work for other reasons.

• The self-employed person’s pension insurance

• Read also: Pension insurance for self-employed persons (YEL) – why it is far more important than many people realise