My Pages - Data Storage
Premium collects members' fees and pension payments from wage payers on behalf of Versicherungskammer (Bayern Líf), among other services.
A copy of your pension agreement along with notifications is stored in your data storage, which you can access by logging in with your electronic credentials.
Fund Member Website
Customers have access to the fund member's website, where the payers' payments to the fund member are displayed. Click the button below to navigate to the fund member website.
New Wage Payer
Fill in the form here to inform us of a change in career or additional work. We will then ensure your fees are correctly delivered and registered.
If you do not know your employer's VAT number, leave that field empty and we will find out for you.
Premium's Price Sheet
Primary and intermediate collection. See: "Regulation on Maximum Collection Cost Amounts, etc.".
- Service fee for application for special disbursement of private property due to COVID-19: 8,900 ISK.
- Service fee for payments into housing loans and withdrawals for first-time home purchases: 9,900 ISK per year.
- Service fee for transferring rights to other custodians: 0.5% of the original amount, though never less than 5,000 ISK.
Dispursments
Disbursements of Personal Property Savings
Payment of personal property savings can begin at the age of 60 and requires a completed and signed application to the fund, along with a copy of identification documents.
Payments are made on the last working day of each month. Income tax is deducted upon payment.
Age Requirements
The right to payment is at the age of 60, upon which time the total assets are available for payment. However, payment can never begin earlier than two years after the first payment was received by the fund.
Upon Death
Personal savings are inherited and are available for payment upon the death of fund members. Income tax is deducted from personal savings at payout but not inheritance tax.
Heirs first need to apply for a division of the inheritance according to the "an overview of the progress of the exchange." (from the District Commissioner).
If no lawful heirs are involved, the personal property savings go into the estate.
Due to Disability
Personal property savings may be paid before the age of 60 if it relates to invalidity. The capital must then be distributed equally over 7 years, based on 100% disability.
A fund member who has obtained the right to payment due to invalidity can request payment with a lump sum if the capital is under a certain benchmark amount. The benchmark amount changes in proportion to changes in the consumer price index. The benchmark amount is 1,616,427 ISK as of January 2023.
Payment of Specified Personal Property Savings
For payments from the insurance contract due to specified personal property savings, the provisions of Act No. 129/1997 on mandatory pension rights insurance and the operation of pension funds, and Article 7 of Regulation No. 391/1998 apply. The same rules apply for payouts and the personal property savings section in the fund member's joint insurance fund.