Minister of Social Affairs and Labour Guðmundur Ingi Guðbrandsson has signed a regulation on changes in the amount of payments from the Maternity Leave Fund and amounts of maternity allowance to parents of children born, adopted or permanently fostered in 2024.

According to Regulation No 1465/2023, the maximum amount and minimum payments from the Maternity/Paternity Leave Fund for children born on or after 1 January 2024 are:

• The maximum amount according to Article 24(1) of the Act shall be

  600.000 ISK

  per month.

• The minimum payment under paragraph 1 of Article 24(3) of the Act is increased to

  160,538 ISK

  per month. (Parents working 25-49%)

• The minimum payment under paragraph 2 of Article 24(3) of the Act is increased to

  222.494 ISK

  . per month. (Parents working 50-100%)

According to Regulation No. 1465/2023, payments of maternity allowance for children born on or after 1 January 2024 are:

• The maternity allowance under the first sentence of Article 38(1) of the Act is increased to

  ISK 97,085

  per month. (Parents who are not in the labour market or in less than 25% of the workforce)

• The maternity allowance under the second sentence of Article 38(1) of the Act is increased to

  222.494 ISK

  per month. (Parents in full education)

There will be no changes in the payments to parents of children born before the entry into force of the Regulation.

Link to Regulation No 1465/2023;

Immigration strength

From 1 January 2024, the adoption grant will be ISK 823,108 according to Regulation No 1467/2023,