期刊名称：IoES Working Paper Series / Institute of Economic Studies, University of Iceland
出版年度：2005
卷号：2005
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 –
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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