According to the collective wage agreement between the Icelandic Confederation of Labour (ASÍ) et al. with SA-Business Iceland, from 21 January 2016, the matching contribution of the employer will increase to 11.5% in three steps.
1 July 2016 | 1 July 2017 | 1 July 2018 | |
---|---|---|---|
Employee pays | 4,0% | 4,0% | 4,0% |
Matching contribution | 8,5% | 10,0% | 11,5% |
Total premium | 12,5% | 14,0% | 15,5% |