Elections are now underway in VR on the structure of grants – and VR members have the final say.
How do you want to receive grants for fitness, travel, glasses, and much more?
The voting is between two options: the VR Contingency Fund and the traditional union grant system.
The results of the election are binding for the union.
Please note that this vote does not concern changes to VR's vocational training funds.
Take a moment – familiarize yourself with the options and make your decision.
The elections are open from 29 September until noon on 20 October.
VR Contingency Fund - your personal fund
How doe the VR Contingency Fund work?
- You receive an annual deposit into your VR Contingency Fund based on membership fees paid the previous year.
- The amount is income-related, about 4% of one month’s wages (average of 12 months).
- You can accumulate a balance in the fund from year to year.
- You can use your balance in a very flexible way (more details here).
Advantages of the VR Contingency Fund
- Great flexibility: You decide how to use your balance, within certain limits.
- Carries over year to year: You can accumulate your balance and withdraw at any time.
Things to keep in mind - VR Contingency Fund
- Balance: The VR Contingency Fund is a credit fund based on paid membership fees.
- Annual deposit: A deposit is made into the VR Contingency Fund at the end of March each year.
- Expiry: The balance begins to expire two years after you leave VR and expires in full after 5 years.
- Icelandair gift certificates: You can buy 4 flight gift certificates per year (subject to agreement with partner). Each certificate costs ISK 23,900 and is valid as a ISK 30,000 payment.
- VR holiday houses: You can use your balance to pay for renting VR holiday houses.
- IVF grant: Maximum of ISK 250,000 one time.
- Parental grant: No specific parental grant.
Grant system – fixed grant amounts
How does the traditional grant system work?
- You become eligible for annual grants upon meeting specific conditions of membership.
- The total grant amount per year can never exceed ISK 120,000.
- You cannot accumulate grant entitlement or transfer it between years.
- You can apply for grants in 7 categories, with an annual limit per category (more details here).
Advantages of the traditional grant system
- Eligibility begins sooner: You can apply for grants after six months of membership in VR.
- Wage-independent: Grants are awarded regardless of income, full grant at minimum wage.
Things to keep in mind - traditional grant system
- Entitlement: You become eligible to apply for predetermined grants. The condition for grants is that membership fees have been paid to VR for six of the last twelve months, including one of the last three.
- Expiry: The right to grants expires three months after the last membership fee payment.
- Icelandair gift certificates: The sale of gift certificates will be discontinued in the traditional grant system. It will be possible to apply for a vacation grant, e.g. for flights and accommodation, ISK 25,000 per year.
- VR holiday houses homes: It will not be possible to use grant entitlements to pay for renting VR holiday houses.
- IVF grant: Maximum of ISK 70,000 per year.
- Parental grant: Special parental grant, ISK 100,000, per child.