You can request to receive your pension from Tryggingastofnun once a year. The payments are calculated when a certified tax return is available and are paid out in one go.
The annual pension lump sum is a deferred payment, so the current year's payments are paid out in June of the following year.
This arrangement could be suitable for those with variable income throughout the year or those who receive their main income from other sources than TR, for example from pension funds.
By getting paid once a year, you get exactly what you are entitled to based on your income.
Application
Here's how you apply:
Click Apply
Log in with your electronic credentials
Select Applications
Select the application One payment per year
Fill out the application
Click Submit Application
Applications can also be made for:
to the service centre of the Social Insurance Administration,
with agents who are stationed at District Commissioners outside the capital area.
Soon a new application will be introduced, it will be processed automatically based on the available data. The result is visible in the application process itself.
The effect of income on old-age pensions - frequently asked questions
Service provider
Social Insurance Administration