Iceland

Basic country data

  • Population 60 and over (2018)
  • 69,437
  • % of total
  • 20.6%
  • Population 60 and over (2050)
  • 119,222
  • % of total
  • 35.3%
  • Does the country have a social pension?
  • Yes
  • Region
  • Europe & Central Asia
  • Income group
  • High income

Data on social pensions

lífeyristryggingar almannatrygginga (National Basic Pension)

Basic scheme information

Data on social pensions

  • Name of pension or programme
  • lífeyristryggingar almannatrygginga (National Basic Pension)
  • Year first social pension introduced
  • 1890
  • Legislative Underpinning
  • Article 17, Social Insurance Act, no 100/2007

2014

Social Security Programs Throughout the World: Europe, 2014

Eligibility criteria

  • Age of eligibility
  • 67
  • Targeting approach
  • Means-tested
  • Detailed eligibility criteria
  • Annual income below the specified level. To receive the full pension, the insured must have resided in Iceland for at least 40 years. Age 60 for some categories of seamen, subject to conditions.
  • References and notes

2014

Pensions at a glance 2013: Iceland (OECD Paper)

Social Security Programs Throughout the World: Europe, 2014

Adequacy

Coverage

Cost

Resources on the pension in Iceland

  • Social Security Programs Throughout the World: Europe, 2012

    Year: 2012 | Published by: Social Security Administration (SSA), International Social Security Association

    Author: Social Security Administration (SSA), International Social Security Association (ISSA)

  • ILO SECSOC: Iceland (Webpage)

    Year: 2012

    Author: ILO

    Webpage providing an overview of Iceland's social pension.

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