期刊名称：IoES Working Paper Series / Institute of Economic Studies, University of Iceland
出版年度：2006
卷号：2006
出版社：niversity of Iceland
摘要：The pension system in Iceland is chiefly characterized by the operation of occupational
pension funds.1 These funds became general in 1969 and mandatory by law in 1974. This
resulted from general wage settlements after tri-party negotiations between labour unions,
the Federation of Icelandic Employers, and the state. Under the agreement, every wage
earner working in the private sector is obliged to contribute a minimum of 10% of his
wages to an occupational fund of his choice or, in most cases, a fund predetermined by
his trade union. However, more than half of the burden is carried by the respective
employer, who currently contributes a minimum of 6% of the total contribution.
Although the minimum contribution rate is set by law, the system is not a pure defined
contribution system since the minimum benefits are also stipulated in the pension law ¨C
the minimum replacement ratio for a 40-year contribution is 56%. If the benefits go
below this threshold, the contributions have to be raised. The system is thus a hybrid
between a defined benefit and a defined contribution system.
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