Holiday bonus 2020
A full holiday bonus for 2020 is 51.000 ISK
- the negotiations with the public sector employers are still ongoing, therefore the amount of holiday bonus has not been agreed for this sector.
Holiday bonuses are paid on 1 June each year. For the employees of Hveragerði, Kópavogur, Seltjarnarnes, Mosfellsbær and the Ölfus municipality, the bonus is paid on 1 May.
Those who have been employed full-time during the vacation year, 1 May – 30 April each year, are entitled to the full holiday bonus. Alternatively, the bonus is paid in proportion to the employment proportion and length of work. The holiday bonus is a fixed amount; holiday allowance is not added.
Private companies – Confederation of Icelandic Employers: A full year’s employment is 45 weeks or 1,800 hours. Employees who have held consecutive employment with the same employer for 12 weeks over the last 12 months (as of 30 April) or are employed during the first week of May are entitled to a bonus.
The state, nursing homes, Reykjavík City and other municipalities: Those who have been employed for 13 consecutive weeks during the holiday year, or are employed to 30 April, are entitled to a bonus
Holiday bonuses are to be settled on termination of employment.