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Title_of_text

Act No. 49 of 1974 on the pension fund for seamen (Consolidation).

Main Region

First Region

Iceland
Seafarers - Social security
1974
National
Law, Act

Second Region

Members of the Fund are in general all seamen, both on fishing ships and cargo ships. Art. 2 contains detailed provisions on membership. Art. 4 to 8 contain provisions concerning administration and investment of the Fund's assets. Each member shall pay 4 percent of his wages as a contribution. The employer shall withhold the amount and reimburse the Fund within two weeks. The employer shall pay 6 percent of the wages of the worker to the Fund. Art. 11 contains provisions on the calculation of the acquired benefits. Each member can receive benefits at the age of 65 or sooner in special cases. The member can also defer his retirement. Art. 13 to 15 make provisions for disability benefits and survivor's benefits. Repeals Act No. 78 of 1970 on Pension Fund for Seamen.

Entry dates region

    Date of entry into force
    1974-05-16
    Date of initial text.

Repealing Text region

Monograph region

    Monograph title
    Lagasafn
    Publisher
    Ministry of Justice
    Place of publication
    Reykjavik
    Country
    Iceland
    Date
    1991
    Volume
    Vol. I
    Page range
    pp. 691-699

Serial region

    Serial title
    Photocopy