Remember the December bonus

26. 11, 2019

The December bonus is a fixed sum and vacation pay is not calculated as an addition to the December bonus. In the latest edition of our newsletter the December bonus was wrongly said to be 89.000 kr, when the correct amount is 92.000 kr like can be seen below.SA – Confederation of Icelandic Enterprise – The private sector (private companies) 92.000 kr.Those who are employed during the first week of December or have been employed by an employer for 12 consecutive weeks during the last 12 months have a right to a bonus no later than on December 15th. A full year’s job is seen as 45 weeks or 1800 hours during the period of January 1st to December 31st.The City of Reykjavík and the State / nursing homes – The reference point is to be the sum of the previous year, meaning 97.000 kr. for the City of Reykjavík and 89.000 kr. for the State / nursing homes as the sum for this year has yet to be determined, because negotiations have not yet concluded. Those who are employed during the first week of November or have worked for 13 consecutive weeks during the year are to be paid a December bonus on December 1st of each year. A full bonus is paid out to those fully employed during the period of January 1st to October 31st.Municipalities – The reference point is to be the sum paid out last year, 113.000 as the sum for this year has yet to be determined because negotiations have not yet concluded. Those who have worked from September 1st are to receive a December bonus on December 1st of each year. A full bonus is paid out to those fully employed during the period of January 1st to November 30th.Those who retire during the year have a right to a December bonus if they’ve worked for 6 consecutive months. The payment is calculated with respect to the period and ratio of employment and the reference point is the period from January 1st to December 31st.___________________________________The December bonus is paid out in proportion to the employment ratio and the period of employment.The December bonus is to be paid out at the end of employment.