Unemployment benefit amounts

The following amounts shall apply as from 1 January 2024:

Basic unemployment benefit payments are calculated  follows:

  • Unemployment benefit is ISK 349.851  per month (100% entitlement).
  • Unemployment benefit is ISK  262.388 per month (75% entitlement).
  • Unemployment benefit is ISK 174.925 per month (50% entitlement).
  • Unemployment benefit is ISK 87.462  per month (25% entitlement – minimum entitlement).

Payments due to dependent children younger than 18 years of age

A monthly payment is made due to dependent children younger than 18 years of age.

While income-related unemployment benefit payments are made, 4% of undiminished basic unemployment benefit payments are made at the amount of 13.251 kr. per month for each child.

Income-related amounts:

Unemployment benefit will be paid at the basic rate for two weeks following your first registration, after which income-related amounts take effect.

  • The maximum of income-related unemployment benefit is ISK 551.530 per month.
  • Income-related amounts are calculated as follows:
    Wage-earners: Income-related unemployment benefit is 70% of your average gross income, based on the six-month period ending two months before you became unemployed.   
    Self-employed individuals: Income-related unemployment benefit is 70% of your average gross income, based on the income year preceding the year in which you become unemployed.
    Your benefit entitlement: The amount of income-related benefit also depends on your benefit entitlement. For example, if you have maximum income-related benefit, but only 50% benefit entitlement, then the maximum amount you can receive is 50% of ISK  i.e. ISK 275.765.

  • Your right to receive income-related unemployment benefit is valid for 3 months from the beginning of the benefit period, providing you meet the requirements. 
  • If a waiting period is imposed on your unemployment benefit, you will not be entitled to income-related benefit.
  • Applicants only have the right to receive income-related benefit once in each benefit period, this being at the beginning of the period. 

Income threshold

You are permitted to earn income up to 86.114 kr. per month (before tax) without it affecting your unemployment benefits. Incidental income higher than this amount will deplete unemployment benefits by half of the combined income (income from work and unemployment benefits) which exceed full unemployment benefits and the income threshold (86.114 kr).

Disbursement dates of the payment office 2024

January 2024

02.01.24             Corrections

04.01.24             Late confirmations

11.01.24             Corrections

16.01.24             Corrections

31.01.24             General payment


February 2024

02.02.24             Corrections

05.02.24             Late confirmations

12.02.24             Corrections

15.02.24             Corrections

29.02.24             General payment


March 2024

04.03.24             Corrections

07.03.24             Late confirmations

11.03.24             Corrections

15.03.24             Corrections

27.03.24             General payment


April 2024

02.04.24             Corrections

05.04.24             Late confirmations

11.04.24             Corrections

16.04.24             Corrections

30.04.24             General payment


May 2024

02.05.24             Corrections

08.05.24             late confirmations

13.05.24             Corrections

16.05.24             Corrections

31.05.24             General payment


June 2024

03.06.24             Corrections

05.06.24             Late confirmations

10.06.24             Corrections

14.06.24             Corrections

28.06.24             General payment


July 2024

02.07.24             Corrections

05.07.24             Late confirmations

10.07.24             Corrections

16.07.24             Corrections

31.07.24             General payment


August 2024

02.08.24             Corrections

06.08.24             Late confirmations

12.08.24             Corrections

15.08.24             Corrections

30.08.24             General payment


September 2024

02.09.24             Corrections

04.09.24             Late confirmations

11.09.24             Corrections

16.09.24             Correctons

30.09.24             General payment


October 2024

02.10.24             Corrections

04.10.24             Late confirmations

09.10.24             Corrections

16.10.24             Corrections

31.10.24             General payment


November 2024

04.11.24             Correctoins

06.11.24             Late confirmations

12.11.24             Corrections

15.11.24             Correctoins

29.11.24             General payment


December 2024

02.12.24             Corrections

04.12.24             Late confirmations

12.12.24             Corrections

18.12.24             Corrections

30.12.24             General payment

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