The December bonus is paid no later than 15 December each year.
Those who have been employed full-time during 1 January – 31 December each year, are entitled to the full December bonus. Alternatively, the bonus is paid in proportion to the employment proportion and length of work. The December bonus is a fixed amount; vacation time is not calculated on top of the December bonus.
A full year’s employment is 45 weeks minus vacation or 1800 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 December are entitled to a bonus.
December bonuses are to be settled on termination of employment.
After one year working for the same employer, absence for statutory maternal/paternal leave is considered working time when calculating December bonus.
December bonus for last year, 2020, was ISK 94.000
December bonus for next year, 2022, is ISK 98.000