How pension savings reduce income tax
|
Monthly wages (ISK)
|
100,000 |
150,000 |
300,000 |
|---|---|---|---|
| 4% contribution |
4,000 |
6,000 |
12,000 |
| 4% private contribution |
4,000 |
6,000 |
12,000 |
| Tax savings (37.2%) |
2,976 |
4,464 |
8,928 |
| Tax savings per year |
35,712 |
53,568 |
107,136 |
