Covid-19 - Private pension

The Government of Iceland, the Icelandic Financial Services Association, and the Icelandic Pension Funds Association have released a mutual declaration on responses to the coronavirus pandemic. You can find it here (in Icelandic).

Althingi has temporarily authorised withdrawals from Private pension. It is important for fund members interested in using this option to acquaint themselves well with it at their depository.The application period is from and including 1 April 2020 to 1 January 2021.

  • The maximum withdrawal for an individual will be ISK 12 million.
  • The maximum payment per month will be ISK 800,000.
  • The maximum payment equals your private pension fund at 1.4.2020
  • The maximum payment period will be 15 month from the date of your application.
  • Income tax will be collected from withdrawals.
  • Application deadline is the 15th of each month

You may send in an application through our application website, there is a special application for this; "Sérstök útborgun séreignar"

You may find information on whether you have funds in the private division of Stapi at your fund members website.

We advise you to read your paycheck or ask your current/earlier employer if you believe you have collected private pension but you are not sure where it is.