VR Contingency Fund

The VR Contingency Fund combines rights which were in various funds before, into one fund and offers members the possibility of utilizing the fund with more flexibility than before.

All members who pay membership fee to VR accumulate rights to the fund. A deposit is made to it annually after the general meeting, followed by updating of credit balance. The union’s general meeting is held in spring. If a member leaves the union, he/she can continue to make use of his/her credit rights for a specific period. Two years after the last payment was made, the credit balance begins to reduce, for further details see Art. 4 of the fund regulations (In Icelandic only).