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Iceland

Schemes

 
Scheme name in english Local name Public/Private Contributory Govt. Level
8. National basic pension lífeyristryggingar almannatrygginga Public mandatory Non contributory Central government
SSI pays basic pension, covering invalidity, old- age and survivor, which entitlements are based solely on period of residence in the country. Benefits are subject to taxation except child pension (barnalífeyrir). Benefits are adjusted annually in accordance with the current State Budget. Adjustments are to take account of wage trends but should never be raised less than the price level pursuant to the cost-of-living index. Invalidity pension covers all residents aged 16-66 inclusive with flat-rate income-tested benefits depending on duration of residence and level of incapacity. Persons whose permanent disability is assessed at a minimum of 75% as a result of a medically recognised disease or invalidity are entitled to an invalidity pension (örorkulífeyrir). An applicant for invalidity pension may have to undergo an appropriate rehabilitation program before a disability assessment is made. A rehabilitation allowance (endurhæfingarlífeyrir) may be paid for a certain period until it is possible to determine the extent of disability. Persons who have lost at least one half of their working capacity and fulfil all conditions other than those relating to the degree of invalidity are entitled to an invalidity allowance (örorkustyrkur). Old-age pension covers all residents with flat-rate income-tested benefits depending on the duration of residence. The minimum residency is at least three years of residence in Iceland between the ages of 16-66 inclusive. Full old-age pension (ellilífeyrir) is paid after 40 years of residence. The legal retirement age is 67 years. Early pension from 60 years is granted to persons who have been registered as seamen. Survivor¿s pension covers all residents with flat-rate benefits for surviving children under 18 provided that the parent responsible for their maintenance is deceased. The deceased insured person, the surviving spouse or the surviving child must have been resident in Iceland for at least three years immediately prior to application for a child pension (barnalífeyrir).

Source

  • Eurostat - Circa Qualitative information database | More
    Scheme Target Group (categories of the population)
        2010       2009       2008       2007       2006       2005       2004       2003       2002       2001       2000       
    Scheme Affiliation (number of contributors and affiliated members)
        2010        2009        2008        2007        2006        2005        2004        2003        2002        2001        2000       
    Scheme Expenditure
        2010        2009 [view]     2008 [view]     2007 [view]     2006 [view]     2005 [view]     2004 [view]     2003 [view]     2002 [view]     2001 [view]     2000 [view]    
    Scheme Revenue
        2010        2009        2008        2007        2006        2005        2004        2003        2002        2001        2000       
    Scheme Benefits

    » Old age | Other benefit in kind
    Basic; Ad-hoc; In kind; Total Individuals; No means-test; Old Age

    » Disability | Other cash periodic benefit
    Basic; Periodic; Cash; Total Individuals; No means-test; Disability

    » Disability | Other benefit in kind
    Basic; Ad-hoc; In kind; Total Individuals; No means-test; Disability

    » Disability Pension
    Basic; Periodic; Cash; Total Individuals; No means-test; Disability

    » Old age pension
    Basic; Periodic; Cash; Total Individuals; No means-test; Old Age

    » Survivors pension
    Basic; Periodic; Cash; Total Individuals; No means-test; Survivors

    » Disability Pension (mean tested)
    Basic; Periodic; Cash; Total Individuals; Means-test; Disability

    » Family & Children | Other cash periodic benefit
    Basic; Periodic; Cash; Total Individuals; No means-test; Family and Children

    » Old age pension (mean tested)
    Basic; Periodic; Cash; Total Individuals; Means-test; Old Age


     
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