December bonus 2020

The December bonus is a fixed amount; vacation time is not calculated on top of the December bonus.

December bonuses are paid based on employment proportion and time worked.

December bonuses are to be settled on termination of employment.

SA – Confederation of Icelandic Employers The general labour market (private companies) ISK 94,000

Employees who are employed during the first week of December or who have held consecutive employment with the same employer for 12 weeks over the last 12 months are entitled to a bonus no later than 15 December. A full year’s employment is 45 weeks or 1,800 hours during the period between 1 January and 31 December.

Reykjavík City ISK 103.100 

Those who are employed in the first week of November or have worked 13 consecutive weeks during the year are to be paid a December bonus on 1 December each year. A full bonus is paid for full employment during the period between 1 January and 31 October.

The state/nursing homes ISK 94.000 

Those who are employed in the first week of November or have worked 13 consecutive weeks during the year are to be paid a December bonus on 1 December each year. A full bonus is paid for full employment during the period between 1 January and 31 October.

Municipalities ISK 118.750 

An employee in a 100% employment ratio receives a personal supplement on 1 December each year. Payment shall be made proportionally to the employment rate and working hours of the last 12 months before the payment date.

If an employee has retired during the year due to age, he shall receive a personal supplement proportional to the employment rate and working hours.

For people that are unemployed ISK 86,853

The December bonus for jobseekers is ISK 86.853 but jobseekers supporting children also receive a special bonus for each child under the age of 18, ISK 5,211 with each child. The bonus is paid out no later than 15 December and is paid by Vinnumálastofnun.

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