Wage increase and economic growth wage increase 2022

On 1. January 2022 pay scales increased by 25.000 ISK and a general wage increase was 17.250 ISK.

Economic growth wage increase

During our last wage agreements it was agreed for the first time to have annexes that would take into account the state of the economy. In this way, workers would receive a fixed ISK figure as a special wage increase on their monthly wages if a certain increase in economic growth is achieved. In order for the increase in economic growth to take effect, economic growth per capita had to exceed 1%. For the year 2021, the growth per capita rose by 2.53% between years. This guaranteed VR members a pay scales increase of ISK 10,500 per month and an increase in general wages by ISK 7,875. per month.

It was agreed that the increase would be paid out on 1. May 2022, and therefore the rates and monthly salary will increase from 1. April 2022.

Workers who receive hourly wages in excess of the minimum rate of VR pay scales get an increase in the hourly wage in daytime work for sales jobs by ISK 46.89. and ISK 49.44. for office jobs. Other rates e.g. night work, overtime, after hours work and Holiday work increase in proportion according to the wage agreement between VR and the SA, where the division number is 167.94 to find hourly wages for daytime work in stores and 159.27 for office work.

Hourly wage rates in daytime work for those working according to The FA agreement increases by ISK 68.24. where the division number for finding hourly wages in daytime work is 153.86. Overtime and Holiday rates also increase in proportion according to the wage agreement between VR and FA.

See VR and SA pay scales here. (Icelandic only)
See VR and FA pay scales here. (Icelandic only)