New fund members in Division A
LSR’s Division A accepts new fund members who meet the membership requirements of the division. An employer who is not a state or municipality employer must fill out an application for membership in Division A, which can be found here to the side. If the employee is already a fund member at LSR or Brú and is entitled to equal accruals, item 5, which concerns a special premium, the so-called additional pension premium, must be filled in. Here you can find more information about additional pension premium in Division A.
Membership in Division A
LSR Division A
Established at the beginning of 1997, it accepts new fund members who meet the membership requirements. The contribution to the division is 15.5%, the fund member pays 4% and the employer pays 11.5%. In certain cases, the employer must also pay an additional pension premium, which changes annually and will be 4.67% from 1 January, 2025.
LSR Division B
LSR's older rights system, which has not accepted new fund members since the end of 1996. The contribution to the department is 12%, the fund member pays 4% and the employer pays 8%. Various special rules also apply, such as that fund members can become premium-free according to the 32-year or 95-year rules.
LSR Private Pension
A traditional private pension fund where the employee can choose to pay 2%-4% of their salary into private pension savings and receive a 2% matching contribution from the employer based on the collective wage agreement. Those who have ever paid a premium to LSR or are members of a public union are entitled to membership in LSR’s Private Pension.
LSR membership requirements
LSR is a closed pension fund primarily for government employees. Everyone who receives a salary according to the collective wage agreements of public employees and works for the state, municipalities, and for related or similar employers has the right to membership. However, other employers can apply to pay into Division A for their staff if other membership conditions are met.
Public unions include BSRB and BHM member associations, as well as KÍ and the Icelandic Nurses Association.
Comprehensive list of public unions
-
- Association of Icelandic Architects
- The Icelandic Veterinary Association
- Association of UR Academic Staff
- The Icelandic Society of Radiographers
- The Association of University Teachers
- The Association of University Teachers in Akureyri
- The Association of University Educated Ministry Employees
- The Icelandic Musicians’ Union
- The Association of Icelandic Artists in the Performing Arts and Film
- The Union of Natural Scientists
- The Icelandic Directors' Association
- The Icelandic Association of Biomedical Scientists
- The Association of State University Professors
- The Union of Physiotherapists
- The Icelandic Assocition of Social Workers
- The Icelandic Occupational Therapy Association
- The Union of Business Administrators and Economists
- The Icelandic Midwives' Association
- The Association of Icelandic Priests
- The Association of Icelandic Visual Artists
- The Icelandic Psychological Society
- The Lawyers Union
- The Icelandic Dental Association
- Viska
- The Association of Social Educators
-
- The State-Employed Aeronautics Employees Association
- The Air Traffic Controllers Association
- Association of Public Employees in East Iceland
- FOSS, public service union
- The Association of Government Ministry Employees
- KJÖLUR Association of Employees in Public Services
- National Association of Police Officers
- National Association of Firefighter and Ambulance Staff
- Postmen's Association of Iceland
- Sameyki Association of Employees in Public Services
- Nursing Assistants’ Association of Iceland
- SLRB Union of State and Town Pensioners
- Employee Association of Garðabær
- Employee Association of Hafnarfjörður
- Employee Association of Húsavík
- Employee Association of Kópavogur
- Employee Association of Mosfellsbær
- Employee Association of Suðurnes
- Employee Association of Vestmannaeyjar
- Icelandic Customs Agents’ Association
Key information about premiums
Division A
-
Fund members’ share
4%
-
Matching contribution:
11.5%
-
Rehabilitation Fund:
0.1%
-
Additional pension premium for equal accrual
4.58%
-
SAL-number:
660
Please contact idgjold@lsr.is for account number.
Division B
-
Fund members’ share
4%
-
Matching contribution:
8%
-
Rehabilitation Fund:
0.1%
-
Teacher supplement for municipal primary schools:
7.5%
-
SAL-number:
-
Daytime work:
650
-
Shiftwork supplements:
653
-
Premium-free:
654
-
Primary school teachers:
657
-
Primary school teachers premium-free:
658
Please contact idgjold@lsr.is for account number.
Private Pension
-
Fund members’ share
2-4%
-
Matching contribution:
2%
-
SAL-number:
670
-
Account No.:
0334-26-58850
-
ID No.:
421198-2259
Submission of declaration reports
LSR does not accept declaration reports on paper, but two options are available for electronic returns.
1. Electronic XML file sent from payroll system
The fund can receive XML files in Division A, Division B and LSR’s Private Pension.
To request access, a person with financial authority for the company must contact the premiums department of LSR via the email address idgjold@lsr.is. Information about the employer's name and ID number must be attached to the request. The collection agency for XML returns to LSR is 1650 State Employee Pension Fund, ID no. 430269-6669.
2. Submission through LSR’s employer website
On the employer website you will find information about balance and a transaction summary.
You can choose to have a claim sent to your online bank.