Married couples and co-habiting couples can conclude an agreement to divide their earned entitlement and future entitlement. An agreement on dividing pension payments can also be concluded after persons begin drawing their pension.
The division of entitlement must be reciprocal, i.e. your spouse must grant you the same proportion of his/her entitlement. For this reason both persons must divide their entitlements. You can assign up to half of your pension entitlement to your spouse.
An agreement on division of entitlement earned must be concluded before the elder spouse reaches age 65. After the division, the retirement pension entitlement of both persons are independent and each of them receives a lifelong retirement pension.
This involves the division of the retirement pension entitlement earned after the conclusion of the agreement and until the marriage, cohabitation or partnership ends.
Yes, married couples and co-habiting couples can conclude an agreement to divide their earned entitlement and future entitlement. An agreement on dividing pension payments can also be concluded after you begin drawing your pension.
Click here to read more about how entitlement can be divided between couples.
Anna Eiríksdóttir
advisor
We understand that the Icelandic pension system can be difficult to navigate, especially if you have experience of a different pension system. Don´t hesitate to chat with us online, call us or come to our office at Kringlan 7. We are happy to help.
