Failure to Pay YEL-Fees

The taking out of YEL-insurances is supervised by the Finnish Centre for Pensions. A failure to take out the insurance is in the first place followed by a request to do so. If this fails, the Centre for Pensions will take out the insurance on the self-employed person’s behalf (a so called mandatory insurance). In such a situation the insurance fees may be doubled. The insurance may be taken out retroactively only for the current year and the three preceding years. No pension will thus accrue for periods before this. Failure to pay YEL-fees decreases the self-employed person’s pension security. There is no flexibility for the payment of the fees of mandatory insurances.