An agreement on a Specified Private Pension with LSR or another custodian of private pension savings can be terminated using a special form on My Pages. Termination does not grant a right to withdraw the balance or benefits, but upon termination it is possible to request that the balance or benefits be transferred to LSR. It is important to specify on the application whether the balance should be transferred or not.

If you wish to terminate a Specified Private Pension agreement with one custodian and begin saving a Specified Private Pension with another, you must submit a new application for Specified Private Pension contributions.

If you change jobs and start paying contributions to another pension fund, you may still continue making contributions to LSR’s Specified Private Pension even if the new job is not with the state, a municipality, or affiliated entities. To do this, you need to enter into a new Specified Private Pension contract with the relevant fund and state on the application that you wish to save into LSR’s Specified Private Pension.

If you have any questions, we encourage you to contact us by sending an email to idgjold@lsr.is.