December & holiday bonuses

The December bonus for 2017 based on full-time employment, shall be ISK 86.000.

This bonus shall be paid no later than 15 December each year, based on the employee’s job proportion and length of employment, to all workers who have been in continuous employment for the same employer for 12 weeks during the previous 12 months, or are in employment during the first week of December. By agreement with the worker, the reference period from 1 December to 30 November may be adopted instead of the calendar year. The December bonus includes holiday (vacation) pay, it is a fixed sum which is not subject to change according to other provisions. Accrued December bonus shall be paid out to workers when they leave the company if this occurs before the payment date for the December bonus.

Holiday bonus for 2018, based on full-time employment, shall be ISK 48.000

This bonus shall be paid on 1 June, based on the employee’s job proportion and length of employment during the holiday reference year, to all workers who have been in continuous employment for the same employer for 12 weeks during the previous 12 months, as of 30 April, or are in employment during the first week of May. Holiday bonus includes holiday (vacation) pay, it is a fixed sum which is not subject to change according to other provisions. Accrued holiday bonus shall be paid out to workers when they leave the company if this occurs before the payment date for the bonus.

Holiday and December bonus entitlement earned during maternity/paternity leave

After the employee has worked for one year for the same employer, periods of absence from work due to legally-prescribed maternity/paternity leave shall be regarded as working time when calculating December and holiday bonuses. The same shall apply in the case of women who, as a safety precaution, have to stop work during pregnancy (cf. the Regulations on measures to improve safety and health at work for women who are pregnant, have recently given birth or are breast-feeding).