New job, new opportunities
A new job can bring exciting opportunities, but also calls for important decisions about salary, benefits, savings, and insurance.
A new job can bring exciting opportunities, but also calls for important decisions about salary, benefits, savings, and insurance.
Both exciting opportunities and important decisions come with taking new steps in your career. A new job can open doors to increased experience, new challenges, and opportunities for growth. Here we have compiled some important points to consider during this transition.
If you contribute 2-4% of your salary to additional pension savings, your employer will add up to 2% in matching contributions. It's like getting a pay raise.
The sooner you start, the greater the benefit – smaller amounts accumulate into substantial savings over time.
Everything in one place - If you have banking with Arion and insurance with Vörður, you get better terms and a simpler overview of your finances.
Choose insurance that suits you - You select insurance according to your circumstances and needs, whether it's life and health insurance, accident or home insurance.
Easy overview - In the Arion app, you get a complete picture in one place, allowing you to manage your insurance and finances in a simple way.
Review the total compensation and carefully examine the employment contract, which includes notice period, rights, and obligations.
Update your tax card with your new employer. If you work in more than one job, adjust the distribution of your personal tax credit to avoid over- or underpayment of taxes.
Remember to set up a supplementary savings agreement in your new job so that matching contributions and savings continue to accumulate.
Review your insurance policies and check if anything needs to be updated in connection with your new job.
Check how much unused vacation time you have and confirm that it will be paid out upon termination of employment.
A new job might mean you're in a new trade union. Verify which union you belong to, which collective agreement applies, and what rights come with it.
It's good to start thinking about savings early and set aside a portion of your salary each month. Many small amounts make one large sum, and every bit counts.
Many people divide their salary into three parts: money for daily life, such as food and entertainment, savings for events, such as trips abroad, and long-term savings, e.g., for a car or apartment.
Saving is important to achieve financial security and have flexibility to meet unexpected expenses. We have compiled some good advice to keep in mind when it comes to saving.
Additional pension savings is a type of private pension savings. It is a form of savings that allows an employee to allocate up to 4% of their total salary to additional pension savings, with the employer contributing a 2% matching contribution.
Were you just starting your first job? Congratulations on that! Taking your first step into the workplace is a significant milestone with many things to consider. We've compiled some practical advice that's good to keep in mind.
Your success matters to us, and we want you to benefit from having your finances and insurance in the same place. That's why you get better terms if you're with both Arion and Vörður.
Everyone between the ages of 16 and 70 who is employed in Iceland is legally required to contribute to a pension fund. By paying into a pension fund, we are guaranteed lifelong retirement income, as well as pension benefits in the event of unforeseen circumstances, such as disability, spousal, or child pensions.
Depending on the profession, some workers are required to pay into a specific pension fund, while others have the freedom to choose a pension fund for their mandatory pension contributions.