Have you thought about what your financial future looks like?
We’re here to support you in planning your financial future, maximizing your retirement income, and enjoying life after work.
Your success is our goal.
We’re here to support you in planning your financial future, maximizing your retirement income, and enjoying life after work.
Your success is our goal.
We would like to highlight several options that may help improve your financial situation
When people retire, their income often decreases. Therefore, it is a smart strategy to use your supplementary pension savings to increase your income during retirement. You may even be able to retire earlier. You can start withdrawing from your supplementary pension savings from the age of 60, and the payments can be made either as a lump sum or as monthly payments over a specified period. If you are a member of Lífeyrisauki or Frjálsi Pension Fund, you can receive retirement payout guidance. It is advisable to consider your retirement plans sooner rather than later and make use of this guidance service.
If you have been contributing to a supplementary pension scheme elsewhere but would like to keep your savings in one place, you can request a transfer to us free of charge through the Arion app. This may also help you reach a higher tier in Arion Rewards. To qualify for the Premium service, you need to hold ISK 40 million in savings, which can include funds, deposit accounts, and supplementary pension savings in Lífeyrisauki Arion and Frjálsi Pension Fund.
It is important to stay informed about the status of your savings, and by keeping everything in one place, you gain a clear and comprehensive overview.
As people approach retirement, ensuring long‑term financial security becomes increasingly important. For individuals around the age of 50, increasing their savings during these years can have a significant impact on their quality of life once they stop working.
Your own savings give you the freedom to enjoy your retirement years to the fullest, with more time to focus on what truly brings you joy.
There can be many reasons to review your mortgage.
If your repayment capacity has increased, you may be able to shorten the loan term and build equity faster.
If you want to reduce your monthly payments — or if your repayment capacity has decreased — you can apply for a loan with a longer term than your current one.
Home Equity Release loan can be a good option for those who have little remaining mortgage debt and want to enjoy life by accessing the funds tied up in their property.
The loan is secured against your home, and during the loan period you do not pay instalments or interest. As a result, the loan principal increases over time. At the end of the loan term, the loan is repaid, although refinancing may also be an option.
More services — more rewards
We want you to enjoy the benefits of being our customer. To show this commitment in action, we offer you Arion Rewards.
It’s very simple: the more of our services you use, the better terms and greater benefits you receive.
When it comes to rewards, there is plenty to choose from — for example, you could receive higher insurance refunds, lower‑cost credit cards, and better interest rates on your savings.
It is important to start planning for financial security in good time, as income often decreases significantly once your working years come to an end. On the other hand, household expenses are usually lower and mortgage debt tends to be reduced. Everyone should understand their own financial position and make a plan that reflects their individual needs.
Pension matters can be complex, especially as many people have contributed to more than one pension fund during their working lives.
That is why we offer specialized pension advisory services to individuals who contribute to Frjálsi Pension Fund and Lífeyrisauki.
As an Arion bank customer, you're automatically a member of the EK discount club.
With the EK app, you can enjoy a wide range of great offers from various companies – right at your fingertips.
Having everything in one place makes life easier. Your success matters to us, and we want you to enjoy the benefits of managing your finances and insurance in one place.
With Arion Rewards, customers with no claims can receive up to a 7% refund on their premiums. As a result, you receive even better benefits when you are a customer of both Arion Bank and Verður Insurance.
The Icelandic pension system can be complex. Nevertheless, we encourage people to roll up their sleeves and take the time to understand their pension matters, as this kind of preparation can make a significant difference to the options available when retiring.
It is important to regularly pause and check the status and terms of the loans and financial obligations you have. It can make a significant difference to refinance loans that carry high interest rates or are unfavorable in some way.
Arion offers the most comprehensive financial services in Iceland. Our diverse range of services gives us a unique position – a varied group of customers, with different needs and goals, utilize our powerful services in loans, savings and investments, as well as pension matters, funds and securities, and insurance.
It costs a fair amount to buy and operate a car – which is why it pays to do some research before finalizing your purchase and getting behind the wheel of your new vehicle. Here are some practical tips that will hopefully help you in your search for your dream car.
The unequal status of cohabitants regarding pension rights has been somewhat in discussion. Pension fund laws include an equalization measure that allows for the division of retirement benefits or pension payments between spouses or cohabitants through voluntary agreements. However, there are many factors to consider when examining whether splitting retirement benefits is suitable, and it cannot be claimed that this approach is always the right one in every situation.
If a decision is made to split pension rights, the division only applies to the retirement benefits of those who are or have been in marriage or unmarried cohabitation, and to rights that have accrued during that time. The division must be mutual, equal, and cover all pension funds in which the member and spouse have rights. Legal requirements regarding health and age apply to the division of accrued rights, so this option needs to be considered in a timely manner.
Paying off loans or other financial obligations at a faster rate than required often results in significant long-term savings. A good way to reduce interest costs is, for example, to make additional payments toward the principal of the loan whenever you have the opportunity to do so.