The Iceland Chamber of Commerce believes it would be safe to reduce mandatory pension contributions from 15.5% to 12% of wages. It also believes that income above a certain level should be exempt from mandatory pension contributions once an employee’s savings have reached a level sufficient to ensure an acceptable standard of living in retirement.
Want mandatory pension contributions reduced
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August 19, 2026
The Iceland Chamber of Commerce believes it would be safe to reduce mandatory pension contributions from 15.5% to 12% of wages. It also believes that income above a certain level should be exempt from mandatory pension contributions once an employee’s savings have reached a level sufficient to ensure an acceptable standard of living in retirement.
