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Iceland (379) > Seafarers - Social security (6)

Name: Act No. 49 of 1974 on the pension fund for seamen (Consolidation).
Country: Iceland
Subject(s): Seafarers - Social security
Type of legislation: Law, Act
Adopted on: 1974
Entry into force:
Published on: Photocopy
ISN: ISL-1974-L-36433
Bibliography: Photocopy
Lagasafn, 1991, Ministry of Justice, Reykjavik, Iceland, Vol. I, pp. 691-699
Abstract/Citation: 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.
Repealing text(s):

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