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Entrepreneur’s unemployment security

As an entrepreneur and a self-employed person, you can also insure yourself against unemployment.

Entrepreneurs and self-employed persons can insure themselves against unemployment by joining Entrepreneur Fund, an unemployment fund for entrepreneurs.

Join the unemployment fund for entrepreneurs within three months of becoming an entrepreneur to prevent an interruption in your income security. In addition, you must join within one month of resigning your membership in your previous unemployment fund.

As an entrepreneur, you should not remain a member of a salary earners’ fund, because this will not entitle you to earnings-related benefits. In addition, the right to earnings-related benefits provided by a salary earners’ fund will end after 18 months of business operations.

Read more on unemployment security from the Entrepreneur Fund

Who is an entrepreneur?

According to the Unemployment Security Act, an entrepreneur is a person who is:

  • obligated to take out YEL or MYEL insurance.                                                                     
  • a managing co-owner with TyEL insurance: as a general rule, the chair of the board, the ordinary members of the board, the managing director and the shareholders of an equally owned company who each own a share of at least 15 percent are considered individuals in managing positions.
  • a person in a managing position with TyEL insurance who, together with their family, owns (or the family owns) at least 30%.
  • The entrepreneurship must also have a substantive scope, i.e. the confirmed annual income for the pension insurance (YEL/MYEL) must be at least 13 573 euros per year (in 2022).

If you have resigned your membership in a salary earners’ fund when becoming an entrepreneur and you are returning to paid employment after entrepreneurship, please inform TEK’s member service if you want to rejoin the Unemployment Fund for Highly Educated (KOKO).

Read more on TEK's services for entrepreneurs