Pension Savings

Íslandsbanki offers diverse pension services involving both private pension savings and statutory pension contributions.

As a result of the employer's counter-contribution and favourable tax terms, a pension represents the most advantageous form of savings available. This is also an extremely convenient way of saving, since it is the employer who is responsible for deducting the premium from your wages and paying it into the defined contributions plan.

  • Members' premiums are transferred to the defined contributions plan together with interest and price-level adjustments
  • The balance of a defined contributions plan is inherited on the death of a member
  • There is no net worth tax on the balance
  • The savings can be distributed among several investment plans

Fund members are offered various investment plans for their pension savings at Íslandsbanki, whether within their own private pension plan or within the Almenni Pension Fund.

Almenni pension fund

A solid pension fund, ideal for those who have the option of selecting their own pension fund and are willing to pay a supplementary premium to increase their spending power when they begin taking their old-age pensions. Members can select an investment plan that suits their needs, choose between two plans to secure a minimum pension and the withdrawal time of pension payments is flexible. Further information is available at