Yrittäjäkassa entrepreneurs’ unemployment fund

In many business owners’ philosophy, unemployment can seem a distant and impossible idea. Nevertheless, about 27,000 of them have decided to secure their future just in case — you should do the same. Join the Yrittäjäkassa entrepreneurs’ unemployment fund.

On the entrepreneurial side, membership of one’s own trade union or entrepreneurship organisation does not guarantee unemployment security. An entrepreneur must become a member of the entrepreneurs’ unemployment fund in order to receive earnings-related unemployment allowance when unemployed. About 27,000 entrepreneurs have already secured themselves against unemployment. Secure yourself – Yrittäjäkassa entrepreneurs’ unemployment fund.

What is Yrittäjäkassa?

Unemployment security is not just for employees: in Finland, entrepreneurs can also join an unemployment fund.

Yrittäjäkassa is, as the name means in Finnish, an unemployment fund for entrepreneurs. As a business owner, you can join Yrittäjäkassa and ensure you have an income if you are out of work.

The unemployment insurance that Yrittäjäkassa provides is an important form of security throughout life. As a business owner, it is worth insuring yourself in case your business ceases operating.

When you are a member of Yrittäjäkassa and become unemployed, Yrittäjäkassa pays you earnings-related unemployment benefit if you meet the conditions. Yrittäjäkassa aims to boost entrepreneurs’ quality of life and security through voluntary unemployment insurance.

Yrittäjäkassa is an ideologically and politically independent unemployment fund whose primary task is to pay income security and other benefits to its members. Finland’s only dedicated unemployment fund for entrepreneurs began operations in 1995.

Yrittäjäkassa has about 27,000 members. The fund pays benefits to an average of 650 members every month

Who is Yrittäjäkassa for?

Regardless of sector or business entity, Yrittäjäkassa is for:

• business owners
• “light entrepreneurs” (who invoice via online platforms)
• farmers
• business owners’ spouses
• co-owners of businesses and
• the self-employed

Yrittäjäkassa has members representing all sectors of the economy. So, whether you run a business in construction or services, are a shop owner, taxi driver, hairdresser, accountant, consultant or lawyer — Yrittäjäkassa has got your back.

All business owners, as defined by the Unemployment Security Act, can join the fund, regardless of their business entity. In other words, you can join Yrittäjäkassa if you are a business owner permanently residing in Finland and the annual income you declare for your pension (YEL entrepreneur pension, MYEL farmer pension or TyEL work pension) is at least €14,803 in 2024.

Why is Yrittäjäkassa membership worth it for a business owner?

Even though unemployment can seem a distant and impossible idea in a business owners’ philosophy, running a business is always risky. Predicting both surprising events and broad societal developments is difficult, if not impossible. For this reason, a business owner should also take precautions against the future rather than reacting when an accident occurs.

As a member of Yrittäjäkassa, you can give yourself security in the future if things go badly.

What are the benefits of fund membership and what does it cost?

Members of Yrittäjäkassa are entitled to unemployment benefit if their business has to cease operating. Members are entitled to earnings-linked entrepreneur’s unemployment benefit once they have been a member and have run a business for at least 15 months.

The fund pay earnings-related benefits for five working days per week. Generally, the fund pays benefits for a maximum of 400 days of unemployment. The qualifying period is five working days. Unlike employees, business owners do not have the right to additional benefit payment days once the maximum number of days has been reached.

If a business owner is not an Yrittäjäkassa member, Kela, the Social Security Institution of Finland, is responsible for paying any basic unemployment allowance. Even the minimum level of the benefit paid by Yrittäjäkassa is €195 per month higher than the unemployment allowance paid by Kela.
The membership fee, which is tax deductible, depends on the chosen level of unemployment insurance. In 2024, the membership fee starts at €9.10 per month or €109.26 per year.

You can estimate your membership fee and unemployment benefit at https://yrittajakassa.fi/jasenille/laskurit.

10 reasons to join Yrittäjäkassa

1. Running a business is always risky. Business owners should also insure themselves in case they become unemployed.
2. Only a business owner who is a member of Yrittäjäkassa may receive earnings-related unemployment benefit if their business ceases operations.
3. In 2024, the minimum membership fee (when the member’s annual income is €14,803) is €9.10 per month. This ensures a benefit which is €195 per month higher than the unemployment allowance paid by Kela, or around €995.02 per month.
4. The membership fee is deductible from your personal income tax.
5. Members are entitled to earnings-linked entrepreneur’s unemployment benefit once they have been a member and have run a business for at least 15 months.
6. If you go from salaried employment to running your own business, you have the opportunity to enjoy unbroken unemployment security. For this you need to switch your membership from your unemployment security fund to Yrittäjäkassa within three months of starting your business.
7. As a member of Yrittäjäkassa, when you become unemployed you can generally receive earnings-related unemployment benefit, with child supplements, for up to 400 days at your chosen security level.
8. If you become unemployed when you are a member, you are entitled to a reduced membership fee of €4 per month.
9. When you are using employment promotion services, you can receive an increased benefit for up to 200 days. For this period, you receive tax-free reimbursement of expenses of €9 or €18 per working day on top of the unemployment benefit. You cannot receive this reimbursement when studying a course that is not provided by TE Services.
10. The unemployment benefit paid by the fund generally accrues a 1.5% pension contribution until the lowest pensionable age. In contrast, Kela’s basic unemployment allowance and labour market support do not contain pension contributions.
    If you run your own business, secure an income in case your business stops trading. Join Yrittäjäkassa at Yrittajakassa.fi.