Choosing and changing your insurance level

Determine the level of insurance that we will use as the basis for your membership fee and unemployment allowance yourself. The insurance level you select on joining AYT and maintain during your membership must be at least EUR 12,564 per year, and it may not exceed the annual earned income for your pension insurance. The minimum earned income of EUR 12,564 is adjusted by the annual salary coefficient.

If you are self-employed under YEL or MYEL, your chosen insurance level may not exceed the confirmed annual earned income for your pension insurance. If you are insured under TyEL, you may choose an insurance level for the fund which is no higher than your gross annual earnings. Always notify AYT of your chosen income level as income for the whole year. You can use the membership fee and unemployment allowance calculators on our website when choosing an insurance level.

As from January 2015, you can insure yourself against unemployment up to the amount of the total earned income for your pension insurance. For example, if you perform work as an entrepreneur insured under YEL and MYEL, you can insure yourself at AYT for a total amount that does not exceed the confirmed earned income for the insurances as mentioned above.

Insurance level as basis of daily allowance

If you become unemployed, your unemployment allowance is determined on the basis of the income you have chosen. We take into account the monthly average of your insurance level over an 15 month period preceding unemployment when calculating the amount of the daily allowance. During that period we can, in accordance with the Unemployment Security Act, take into account an increase in your income not exceeding 20 %. If you increase the level of your insurance in the fund by more than 20 %, you should maintain the increased level for at least 15 months to enable us to take the share exceeding 20 % as the basis for unemployment allowance. The bases and calculation of daily allowance are described in more detail in the section For the unemployed.

Inform us of changes without delay

Check your insurance level annually, for example in conjunction with our membership fee invoice. You should notify the fund of a new level of insurance whenever you wish or need to.

Changes in your insurance level are always registered as having come into effect as of the beginning of the calendar month. We will provide you with confirmation that a change in level has entered into force and a new membership fee invoice. You can notify us of your new insurance level by means of an online income notification, a free-form written notification or by calling our customer service.

Annual adjustment of insurance level

Check your insurance level annually, for example, in conjunction with our membership fee invoice. You should notify the fund of a new level of insurance whenever you wish or need to. If the insurance level you have selected for the AYT fund is based on YEL or MYEL insurance, we will automatically adjust your insurance level annually as of 1 January by applying the salary coefficient, complying with the Employees Pensions Act. If you do not want us to adjust your insurance level, please notify us, for example, by calling our customer service.

basic fee

A basic fee is charged for a period of membership during which you do not meet the work requirement applicable to entrepreneurs. The basic fee is 25 per cent of the fund's lowest membership fee. In 2017, the basic fee is EUR 62.57 for the full calendar year.

We will charge the basic fee for a membership period during which you are not available to the labour market because of, for example, incapacity to work or maternity leave. You also fall under the basic fee if you have terminated fully a pension insurance (YEL, MYEL, TyEL) that you have taken out or the annual income for your pension insurance is less than EUR 12,564 per year. Please notify us of any changes in your situation by web form or call our customer service at 09 2535 3100.

Based on your notification, we will transfer you to our basic fee system and we will begin to charge the basic fee as of the beginning of the month following your notification. We will contact you on an annual basis to ask whether the basis for a basic fee still exists. Based on your clarification we will either continue to charge the basic fee or return to the membership fee invoicing, complying with your insurance level increased by the salary coefficient. We will charge the basic fee until the grounds for this exist.