The Pension Fund for State Employees in Iceland (LSR) provides its members with pension funds and supplementary savings, two of the three main pillars of the Icelandic pension fund system (the third one being social insurance). Membership is generally granted to public employees who are members of one of Iceland's public labor unions.
Contributing to a mutual pension fund is mandatory for those earning wages in Iceland. By contributing you earn the right to guaranteed lifelong pension payments and added benefits. The contribution paid is 15.5% of total wages, 11.5% paid by the employer and 4% by the employee.
Contributions to personal pension savings are voluntary, but highly recommended as one of the most efficient available form of savings. When contributing to personal pension savings, usually 2% - 4% of wages, you earn the right to a 2% counter-contribution from your employer.
LSR offers mortgage loans to members against a mortgage on residential property in Iceland, owned by the borrower. We offer two types of inflation-indexed rates and a non-indexed rate.
Do you need to get in touch? Various options are available to you; e-mail, phone or by visiting us at Engjateigur 11. Click here for further information.
