Pension insurance for agricultural entrepreneurs
MYEL pension insurance for agricultural entrepreneurs is intended for farmers, reindeer herders, professional fishermen and forest owners who work in their own forests.
MYEL pension insurance is generally compulsory for full-time agricultural entrepreneurs. Part-time agricultural entrepreneurs can take out insurance on a voluntary basis in order to accrue pension for farm work, reindeer husbandry, fishing or forestry work.
Spouses and other family members who participate in the same agricultural work are also entitled to insurance from Mela.
Insurance based on annual earnings
Your annual earnings (MYEL earnings) determine how much pension you accrue. Your annual earnings are also used to calculate the amount of compensation for loss of earnings, accident compensation and sickness allowance.
Compulsory or voluntary?
MYEL pension insurance is compulsory for most agricultural entrepreneurs. You are obligated to take out insurance if the amount of your work and size of your farm fulfil the conditions for compulsory insurance.
MYEL pension insurance is compulsory if all the following conditions are met:
- You are between the ages of 18 and 67
- Your farm has at least five MYEL hectares of cultivated fields, gardens or forest
- Your annual MYEL earnings amount to at least 4288 euros (2023)
- Your farm is taxed in accordance with the Agricultural Income Tax Act (543/1967)
- Your work continues for at least 4 months
Farmers, reindeer herders, professional fishermen and forest owners who do not meet the above conditions should also take out insurance on a voluntary basis in order to accrue pension for their agricultural work.
Mela security for life’s different situations
MYEL pension insurance provides comprehensive pension cover and social security for farmers, reindeer herders, professional fishermen and forest owners in life’s different situations.
If you have MYEL pension insurance, you are entitled to an old-age pension in accordance with the Farmers’ Pension Act (MYEL). If you want to reduce the amount you work without yet retiring, you can also take a partial old-age pension.
If you have MYEL pension insurance and your ability to work is impaired, you are entitled to occupational rehabilitation to help you continue your work. You may also be entitled to a disability pension or years-of-service pension.
Your MYEL pension insurance also includes occupational accident and disease insurance, i.e. MATA insurance, which provides cover against accidents and diseases that occur while you are work.
If you are not covered by compulsory MYEL pension insurance, you can still take out voluntary MATA insurance.
You can also take out leisure-time MATA non-occupational accident and disease insurance, which is only available together with MATA occupational accident and disease insurance. Leisure-time MATA insurance provides comprehensive cover against accidents and diseases that may occur while working at home and during your leisure time.
With MYEL pension insurance you can also get Mela sickness allowance during the qualification period of your health insurance starting from the fifth day of sickness.
MYEL pension insurance includes family pension and group life insurance, providing cover for your loved ones.
The farmers’ holiday and stand-in scheme is intended for rural entrepreneurs who work in livestock production.