Earn more with private pension savings
Private pension savings are one of your most valuable retirement assets — and the smartest, most cost-effective way to save today.
Why choose a Private Pension?
You contribute 2–4% of your salary to private pension savings, and your employer contributes 2%. This is equivalent to a 2% salary increase.
Life Plan — the most popular option
Apply for a Private PensionLife Plan adjusts your investments as you age, smoothing out fluctuations as you approach retirement. Explore Íslandsbanki’s other investment options and find the one that suits your goals best.
What are private pension savings?
Everything you need to know about private pension savings in 90 seconds.
Withdrawal of private pension savings
Private pension towards a new home
You can put your private pension savings towards your mortgage tax-free, or use them as a tax-free down payment when buying a home.
Finances at retirement
Once you turn 60, you can start withdrawing your private pension savings. Explore our retirement page for straightforward advice on making the most of your finances after you retire.
FAQs
What are Private Pension savings?
How do I set up private pension savings?
Where can I see my private pension savings?
Can I use my private pension savings to buy housing?
Are private pension savings inherited upon death?
When can I withdraw my private pension savings?
Your private pension savings
You can find information about your balance in Íslandsbanki’s private pension savings on the Private Pension Portal, online bank, and the app.
Private Pension Portal
On the Private Pension Portal, you can view your balance and transactions, apply for private pension savings, make changes, and access statements.
Changing employer
When you change jobs, you must notify us of your new employer so that contributions to your private pension savings continue.
Book an appointment with an advisor
Sometimes it helps to talk to someone and seek advice.