Married couples and co-habiting couples can conclude an agreement to divide their earned and future entitlements. An agreement on dividing pension payments can also be concluded after people start drawing on their pension.
The division of entitlements must be reciprocal, i.e. your spouse/partner 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/partner.
An agreement on the division of the entitlement earned must be concluded before the elder spouse/partner reaches the age of 65. After the division, the retirement pension entitlements of both individuals are independent and each of them receives a lifelong retirement pension.
This involves the division of the retirement pension entitlements 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 on your pension.
Click here to read more about how entitlements 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'll be happy to help.
