Equal Pay Policy

Gildi Pension Fund undertakes to pay the same wages and terms for jobs of equal value regardless of gender. The criteria used for wage decisions shall not include gender discrimination. The Fund’s Equal Pay Policy covers all of the fund’s employees and is an integral part of the Fund’s Human Resources Policy and Remuneration Policy.

The Managing Director is responsible for the Fund’s equal pay system and the policies related to the equal pay system. It is the Managing Director’s responsibility to document, implement, maintain and continuously improve the management of equal pay issues in accordance with the requirements of the standard.

The Fund’s goal is to:

  • Implement a certified equal pay system based on the equal pay standard ÍST 85:2012, document it and maintain it by carrying out continuous monitoring.
  • Set equal pay goals, cf. above, and specify which methods the Fund intends to take to achieve the set equal pay goals.
  • Carry out a wage analysis at least once a year, where jobs of equal value are systematically compared with the aim of investigating whether there is a difference in wages according to gender.
  • Respond appropriately to unexplained gender pay gaps if they appear in a wage analysis.
  • Conduct internal and external audits on a regular basis and hold an annual management review of the Fund’s equal pay system.
  • Carry out a regular assessment of compliance with laws, rules and collective wage agreements that are in force at any given time and that affect the Fund’s equal pay system.
  • Present the Equal Pay Policy to staff and make it accessible on the Fund’s website.