Joint insurance and private pension savings within the minimum contribution affect rights at TR.

• Joint insurance

• Specified or optional private pension savings

• Private pension savings within the minimum contribution – tied private pension savings

It is a good idea to contact your pension funds to get information about your accrued pension fund allowance.

It is mandatory in Iceland to pay into a pension fund, and the minimum contribution is 15.5%. It is most common for the entire minimum contribution of 15.5% to go into joint insurance.

Allowance from joint insurance affects the calculation of rights at TR above the general exemption limit, which is 36.500 ISK per month (438.000 ISK per year).