Withdrawal of private pension savings due to COVID-19

Part of the government's action due to COVID-19 is to permit withdrawal of private pensions.

  • The application period is from the 1st of April 2021.
  • Maximum payment is ISK 12.000.000 for each private pension holder (although not higher than its total savings as at the 1st of December 2021).
  • Payments will be made in equal monthly installments, maximum ISK 800.000 per month for up to 15 months, income tax will be deducted from payments. Payment period will be proportionally shorter if holders apply for lower amount.
  • If private pension holder has private pensions at other custodians you should mark the relevant box in the application form, the maximum ISK 12.000.000 payment is the total amount from all pension custodians combined.

 

For fund 320 (Kvika séreign 1 – Kvika séreign 4): Please email completed signed application form in addition to copy of valid ID to lifeyrir@tplus.is.

For fund 322 (Innlánaleið og Ævileið): Please email completed signed application form in addition to copy of valid ID to sparnadur@tplus.is.

 

Application for withdrawal of private pension savings