Unemployment benefit amounts
The following amounts shall apply as from 1 January 2024:
Basic unemployment benefit payments are calculated follows:
- Unemployment benefit is ISK 349.851 per month (100% entitlement).
- Unemployment benefit is ISK 262.388 per month (75% entitlement).
- Unemployment benefit is ISK 174.925 per month (50% entitlement).
- Unemployment benefit is ISK 87.462 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 13.994 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 551.530 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 i.e. ISK 275.765. - 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.
Income threshold
You are permitted to earn income up to 86.114 kr. per month (before tax) without it affecting your unemployment benefits. Incidental income higher than this amount will deplete unemployment benefits by half of the combined income (income from work and unemployment benefits) which exceed full unemployment benefits and the income threshold (86.114 kr).
Disbursement dates of the payment office 2024
January 2024
02.01.24 Corrections
04.01.24 Late confirmations
11.01.24 Corrections
16.01.24 Corrections
31.01.24 General payment
February 2024
02.02.24 Corrections
05.02.24 Late confirmations
12.02.24 Corrections
15.02.24 Corrections
29.02.24 General payment
March 2024
04.03.24 Corrections
07.03.24 Late confirmations
11.03.24 Corrections
15.03.24 Corrections
27.03.24 General payment
April 2024
02.04.24 Corrections
05.04.24 Late confirmations
11.04.24 Corrections
16.04.24 Corrections
30.04.24 General payment
May 2024
02.05.24 Corrections
08.05.24 late confirmations
13.05.24 Corrections
16.05.24 Corrections
31.05.24 General payment
June 2024
03.06.24 Corrections
05.06.24 Late confirmations
10.06.24 Corrections
14.06.24 Corrections
28.06.24 General payment
July 2024
02.07.24 Corrections
05.07.24 Late confirmations
10.07.24 Corrections
16.07.24 Corrections
31.07.24 General payment
August 2024
02.08.24 Corrections
06.08.24 Late confirmations
12.08.24 Corrections
15.08.24 Corrections
30.08.24 General payment
September 2024
02.09.24 Corrections
04.09.24 Late confirmations
11.09.24 Corrections
16.09.24 Correctons
30.09.24 General payment
October 2024
02.10.24 Corrections
04.10.24 Late confirmations
09.10.24 Corrections
16.10.24 Corrections
31.10.24 General payment
November 2024
04.11.24 Correctoins
06.11.24 Late confirmations
12.11.24 Corrections
15.11.24 Correctoins
29.11.24 General payment
December 2024
02.12.24 Corrections
04.12.24 Late confirmations
12.12.24 Corrections
18.12.24 Corrections
30.12.24 General payment
