Social Insurance Administration
Pensions - Generally increased free-income limit by 46%
20th December 2024
From January 1st, the general freehold threshold for old-age pensions and social support for the elderly will increase by 46%.
The average monthly free income will be ISK 36,500 instead of ISK 25,000 per year from January 1st, and the total will be ISK 438,000 instead of ISK 300,000.