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Pension benefits outside of the pension system

Pension benefits outside of the pension system


Title: Pension benefits outside of the pension system
Author: Ísleifsson, Ólafur
Date: 2013-12-15
Language: English
Scope: 473-488
University/Institute: Reykjavík University (RU)
Háskólinn í Reykjavík (HR)
School: School of Business (RU)
Viðskiptadeild (HR)
Department: Viðskiptafræði (HR)
Business (RU)
Series: Stjórnmál og stjórnsýsla;9(2)
ISSN: 1670-6803
1670-679X (eISSN)
DOI: 10.13177/irpa.a.2013.9.2.11
Subject: Pension benefits for the elderly; Pension rights; Financing of pension benefits; PAYG pension scheme; Eftirlaun
URI: https://hdl.handle.net/20.500.11815/1081

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Abstract:

In this paper we review a special pension scheme established by the Govern- ment of Iceland for elderly workers that foreseeably would not enjoy any sig- nificant pension benefits from the pension system founded on the basis of the general labour agreements of 1969. This pension scheme that was run alongside the private labour market pension system and social security was conceived as a temporary measure but extended over a longer time period than originally envisaged. Based on unpublished data we seek answers to questions on the financing of the scheme and its impact in terms of the relative share of its pen- sion payments.

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