Unemployment benefit amounts

The following amounts shall apply as from 1 January 2023:

Basic unemployment benefit payments are calculated  follows:

  • Unemployment benefit is ISK 331.298  per month (100% entitlement).
  • Unemployment benefit is ISK  248.473 per month (75% entitlement).
  • Unemployment benefit is ISK 165.649 per month (50% entitlement).
  • Unemployment benefit is ISK 82.824  per month (25% entitlement – minimum entitlement).

Payments due to dependent children younger than 18 years of age

A monthly payment is made due to dependent children younger than 18 years of age.

While income-related unemployment benefit payments are made, 4% of undiminished basic unemployment benefit payments are made at the amount of 13.251 kr. per month for each child.

Income-related amounts:

Unemployment benefit will be paid at the basic rate for two weeks following your first registration, after which income-related amounts take effect.

  • The maximum of income-related unemployment benefit is ISK 522.282 per month.
  • Income-related amounts are calculated as follows:
    Wage-earners: Income-related unemployment benefit is 70% of your average gross income, based on the six-month period ending two months before you became unemployed.   
    Self-employed individuals: Income-related unemployment benefit is 70% of your average gross income, based on the income year preceding the year in which you become unemployed.
    Your benefit entitlement: The amount of income-related benefit also depends on your benefit entitlement. For example, if you have maximum income-related benefit, but only 50% benefit entitlement, then the maximum amount you can receive is 50% of ISK 522.282 i.e. ISK 261.141.

  • Your right to receive income-related unemployment benefit is valid for 3 months from the beginning of the benefit period, providing you meet the requirements. 
  • If a waiting period is imposed on your unemployment benefit, you will not be entitled to income-related benefit.
  • Applicants only have the right to receive income-related benefit once in each benefit period, this being at the beginning of the period. 

Disbursement dates of the payment office 2023

JANUARY  
2. Corrections
5. Late confirmations
11. Corrections
16. Corrections
31. General payment
FEBRUARY  
3. Corrections
7. Late confirmations
10. Corrections
16. Corrections
28. General Payment
MARCH  
2. Corrections
7. Late confirmations
10. Corrections
16. Corrections
31. General payment
APRIL  
3. Corrections
5. Late confirmations
12. Corrections
17. Corrections
28. General payment
MAY  
3. Corrections
5. Late confirmations
10. Corrections
16. Corrections
31. General payment
JUNE  
2. Corrections
6. Late confirmations
9. Corrections
15. Corrections
30. General payment
JULY  
3. Late confirmations
5. Corrections
10. Corrections
17. Corrections

31. General payment

AUGUST  
2. Corrections
4. Late confirmations
11. Corrections
15. Corrections

31. General payment

SEPTEMBER  
1. Corrections
5. Late confirmations
11. Corrections
15. Corrections
29. General payment
OCTOBER  
2. Corrections
5. Late confirmations
11. Corrections
16. Corrections
31. General payment
NOVEMBER  
2. Corrections
6. Late confirmations
10. Corrections
15. Corrections
30. General payment
DECEMBER  
1. Corrections
6. Late confirmations
10. Corrections
18. Corrections
29. General payment

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