A person on a disability pension turns 67
Disability pension allowance is paid until an individual turns 67. At that point, the allowance changes to an old-age pension allowance without the individual needing to do anything. However, this does not apply to those who are residing abroad, as possible pension rights in the country where the person lives must be reviewed.
However, it is possible to defer receiving an old-age pension, but this must be specifically requested by sending us a message through My Pages. In that case, any income earned from the time one stops receiving disability pension allowance until an application for an old-age pension is handed in will not affect the amounts of TR allowance.
If old-age pension is deferred, all allowance from TR will cease until an application is sent in again.
At this juncture, it is important to carefully review all circumstances and consider whether there is a reason to defer receipt of the pension in light of changes in income. Likewise, it is important to carefully review your income plan to ensure that it is consistent with the income the person receives alongside the allowance from TR.
Amounts and free income limits for old-age pension
It is a good idea to use the TR calculator to see potential old-age pension allowance based on your circumstances and income.
Information on the amounts and free income limits for old-age pension.
Good to know
Check whether you are entitled to supplementary allowances such as:
or
Individuals with a disability pension are entitled to an exemption from vehicle tax, and this right is maintained when they transfer to an old-age pension. The exemption should be applied automatically, but if not, an application should be made to the Icelandic Tax and Customs.
Right to old-age pension - frequently asked questions
Pension from another EEA country or the USA - common questions
The effect of income on old-age pensions - frequently asked questions
Service provider
Social Insurance Administration