When pension fund members emigrate from Iceland, it is possible to apply to have pension premiums reimbursed if the following requirements are met:
- You are not a citizen of a country that has made an international agreement with Iceland.
- You do not anticipate utilizing the rights through paid premiums, and therefore, waive your rights to any entitlements that may have accumulated.
Apply to have pension premiums reimbursed
Iceland has concluded international agreements with over thirty countries, referred to as contracting states. Contracting states are the United States, the European Economic Area (EEA) member countries, and Switzerland, i.e., all EFTA and EU member states.
- EFTA states are Iceland, Norway, Liechtenstein, and Switzerland.
- EU member states are Austria, Belgium, Bulgaria, Denmark, Estonia, Finland, France, Greece, the Netherlands, Ireland, Italy, Croatia, Cyprus (the Greek part), Latvia, Lithuania, Luxembourg, Malta, Portugal, Poland, Romania, Slovakia, Slovenia, Spain, Sweden, the Czech Republic, Hungary, and Germany.
Brexit:
A new international agreement between Iceland and the United Kingdom has taken effect as of 1st of January 2024. The agreements states that pension rights of British citizens shall be considered as those of EEA states. Therefore, reimbursement of pension premiums is not applicable to British citizens when emigrating from Iceland.