Supervision and maintenance

  • How can I check on how the rights are accumulating in my pension fund?

    You look at your pension fund's website and log in to my pages or the fund member's website, with Icelandic electronic identity card. Check the overview on how your pension rights are generated and accumulating. 

    Most overview also show what pension payments you will receive upon retirement, assuming continuing contributions. If it seems to you that the expected pension payments will not be sufficient, you need to increase your savings to achieve your objective. In addition, it is in your interest to begin saving as soon as possible.

    Please note that in general pension funds also publish on overview of premium payments here on this website  island.is (Digital mailbox in Iceland.)

     

     

  • Must I monitor whether my wage payer pays its contributions to my pension fund?

    In general, pension funds publish an overview of premiums on My pages on the website of each fund or island.is (Digital mailbox in Iceland).

    If you want a overview by mail, you can send an inquiry to your pension fund.

    You should compare the overview to your pay slips. If any payments are missing, you should contact your employer and request an explanation or contact your pension fund and ask the fund to collect the unpaid contributions. Pension rights are based on paid contributions.

  • Do I really have to attend meetings and seminars of my pension fund? Shouldn’t I make better use of my time?

    You should attend annual general meetings and pay attention to the operations and performance of the fund. These are important rights which require following like other assets. Some pension funds also invite their members to attend seminars on pension matters. Attending such seminars can prove to be very useful to attend such seminars to keep up with pension matters and thus be better prepared to assess whether your rights are adequate.

  • Do I have to do anything specific when I start paying contributions into a pension fund?

    You should immediately familiarise yourself with how rights accrue in your pension fund. How will your pension rights accrue, and what will they be at retirement? What disability payment will you receive if you become disabled due to an accident or illness? What pension will be paid to your close relatives upon your death?

    Contact your pension fund and check these points.

    All pension funds have a website with information on the rights they provide, more information here. 

  • I cannot recall which pension funds I have paid into during my life. Is there any chance that any payments would be lost or forfeit?

    Rights are not forfeit even though the statements have been lost. 

    If you do not remember the name of the pension fund, you can contact +354 563 6400 or send an inquiry with your Icelandic social security number to lifeyrir@greidslustofa.is 

     

  • Can I get a refund of paid-in contributions if I leave the fund?

    Earned rights are preserved for the fund or funds you have paid into. When the time comes for pension payments, you must apply for them.