- Additional pension savings
- Disability pension
- Division of pension rights
- Foreign nationals
- Half-pension
- Mandatory Pension Funds
- Moving to another country
- Old-age pension
- My pension fund
- Purchase of first apartment
- Rights
- Specified additional pension savings
- Supervision and maintenance
- Summer jobs
- Surviving spous's pension and child allowance
- Taxation
- Upon death
- All
Purchase of first apartment
How are additional pension savings utilised in purchasing a first apartment?
First-time buyers can use additional pension savings to save for a down payment, make payments on a mortage loan or both make mortgage loan payments and lower the burden of a mortgage loans.
The maximum annual amount for everyone is ISK 500,000.
Additional pension savings may be utilised to buy a first apartment over a continuous 10-year period.
Application is made on the website of The Director of Internal Revenue skatturinn.is
Is there a maximum amount?
Yes, the maximum amount per individual is ISK 500,000 per year, for a continuous period of 10 years.
Do I utilise additional pension savings only for the down payment?
No, you can also utilise additional pension savings to pay off a mortgage loan or both pay off a mortgage loan and lowering future payment's burden.
