What is Social Insurance?

The Social Security Act stipulates a certain degree of social protection. Everyone residing in Iceland for a certain length of time is deemed insured by the Icelandic Social Insurance System unless provisions in international agreements provide otherwise. Nevertheless, certain additional conditions must be fulfilled to have a right to payments, e.g., regarding age, degree of invalidity and length of residence. Income and family circumstances can also have an effect.

Residence generally means domicile as defined in the Act on Domicile, and length of residence is therefore based on registration in The National Registry (Þjóðskrá). 

Social Insurance in Iceland is financed from the State Treasury by tax payments into the treasury and payroll taxes paid by employers and independently working individuals, but there is no other specific premium paid for Social Insurance.

Social insurance payments:

Please note that only pension recipient living in Iceland are entitled to the following benefits:
Personal allowances, household supplement, rehabilitation pension, allowance for motor vehicle costs and special supplement for support.

Did you know:

The Social Insurance Administration in Iceland was founded in 1936.

This site was revised 15th. Sept. 2013