FRJÁLSI PENSION FUND
APPLICATION FOR MANDATORY PENSION SAVINGS
Acc. No. 329-26-7056, ID-No. 600978-0129, pension no. 137
Personal information
Name
Address
ID-No.
Post code and town/city
/
Telephone
Mobile
E-mail address
Choice of Insurance Plan for Obligatory Premium Payments
Choose one of the insurance plans below. If no insurance plan is chosen, premium payments will be allocated under the Freedom Path Plan by default.
Please note that the choice of insurance plan in this application supersedes previous choices of investment plan. Please refer to the reverse side for more
information on insurance plans.
Choice of Plan
Insurance Plan
Insurance fund
Limited Account4
Open Account5
Total
Inheritance Path
3.40%1
6.55%
2.05%
12%
Freedom Path
7.95%2
4.05%
12%
Insurance Path
12.00%3
12%
Choice of Investment Plan for Open and Limited Accounts
Choose one of the investment plans below. If no plan is chosen the Life Plan will be used by default. Note that if the Insurance Path is selected above, you do
not select an insurance plan. Please note that the choice of investment plan in this application supersedes previous investment plans in mandatory- and
supplementary pension savings and may entail transferring assets to another investment plan if Life Plan is selected. Please refer to the reverse side for
more information on investment plans.
Choice of Plan
Investment
Plan
Domestic
Equities*
Foreign
Equities*
Bonds
Deposits
Age in Life Plan **
Frjálsi 1
20%
25%
50%
5%
54 years old and younger
Frjálsi 2
15%
5%
75%
5%
55 years old and older
80%
20%
Pensioner
45%
5%
Frjálsi 3
Frjálsi Risk
Life Plan
45%
5%
Fund member's personal pension is transferred between Frjálsi 1-3 depending on age
Monthly payments shall be made as follows:
Employer sends payment
Automatically charge my credit card every month
Visa
MasterCard
Americ. expr
No.
-
-
-
Exp. d
/
12% premium
ISK
VIRK 0.10%*
ISK
Total
ISK
Automatically debit my bank account
every month **
12% premium
ISK
VIRK 0.10%*
ISK
Total
ISK
Issue bill, pay online ***
12% premium
ISK
VIRK 0.10%*
ISK
Total
ISK
*Employers shall pay 0.10% of the employee’s total salary into VIRK, the Icelandic Rehabilitation Fund.
**Option only available if you have an account at Arion Bank. Please note that a separate form must be completed to enable direct debit. Call one of our advisors on 444 7000 for assistance.
Please send a copy of this application to my employer:
Name
Address
ID-No.
Post code and town/city
Telephone Number
Fax
E-mail address
By signing below I confirm that I have read through this application, including the information on the reverse side.
Place and date
Consent of parent/guardian if beneficiary is under 18
Signature of Member
On behalf of Frjálsi Pension Fund (name of advisor)
Send by email to breytingar@arionbanki.is or by mail to Lífeyrisþjónusta, Túngötu 3, 580 Siglufjörður
Ebl. 18.9.1.2.1 / 01.16 / 7 ár+
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Copy Frjálsa lífeyrissjóðsins
APPLICATION FOR MANDATORY PENSION SAVINGS
Further information on insurance plans:
The table below shows the different payout options depending on which insurance plan you select. Further information is also contained in the fund’s
articles of association.
Insurance fund
Limited Account4
Open Account5
Total
Inheritance Path
3.40%1
6.55%
2.05%
12%
Freedom Path
7.95%2
4.05%
12%
Insurance Path
12.00%3
Insurance Plan
1)
2)
3)
4)
5)
12%
Guarantees disability- and children‘s pension in the event of the loss of ability, spouse‘s and children‘s pension in the event of death and old age pension from the age of 85
until death. It is possible to start receiving an old age pension from the age of 82 if payments from the limited account have been completed, but in this case pension from
the insurance fund decreases.
Guarantees disability- and children‘s pension in the event of the loss of ability, spouse‘s and children‘s pension in the event of death and old age pension from the age of 70
until death. It is possible to start receiving an old age pension from the age of 60 in which case the pension decreases, or to postpone it to the age of 75, in which case the
pension increases.
Guarantees disability- and children‘s pension in the event of the loss of ability, spouse‘s and children‘s pension in the event of death and old age pension from the age of 67
until death. It is possible to start receiving an old age pension from the age of 60, in which case the pension decreases, or postpone it until the age of 72, in which case the
pension increases.
Funds in the limited account can be paid out when the fund member reaches the age of 60 and a monthly pension is guaranteed until the age of 82, 8 3, 84 or 85 depending
on the choice of the fund member. Funds in the limited account are fully inheritable
The funds in the open account can be paid out when the fund member reaches the age of 60. Payments cannot be received however until 2 years after the first deposit. You
can request monthly or annual payments, or a lump sum. The open account is paid out in the case of disability according to certain rules and once specific conditions have
been met. Funds in the open account are fully inheritable.
Further information on investment plans:
Please note that the choice of investment plan in this application supersedes previous investment plans in mandatory- and supplementary pension savings
and may entail transferring assets to another investment plan if Life Plan is selected. If the fund member chooses the investment plan Life Plan but has
accumulated savings in another investment plan, these savings will be transferred to the investment plan under Life Plan. However, savings under Frjálsi 3
will not be transferred according to the above. If, however, the member chooses a different investment plan to Life Plan but has accumulated savings in Life
Plan, these savings will remain in the investment plan under Life Plan but will not subsequently be transferred in accordance with the rules on Life Plan.
Investment
Plan
Domestic
Equities*
Foreign
Equities*
Bonds
Deposits
Age in Life Plan **
Frjálsi 1
20%
25%
50%
5%
54 years old and younger
Frjálsi 2
15%
5%
75%
5%
55 years old and older
80%
20%
Pensioner
45%
5%
Frjálsi 3
Frjálsi Risk
Life Plan
45%
5%
Fund member's personal pension is transferred between Frjálsi 1-3 depending on age
*In the above table shares and unit shares of other funds for collective investments are categorised as domestic shares.
**Under the Life Plan the premium payments and balance are transferred between investment plans depending on the member’s age as shown in the last column. Further rules
on the Life Plan may be found in the fund’s articles of association. As the member gets older, investment risk is reduced to lessen fluctuations in returns as the member
approaches the date for paying out pension savings.
The percentages in the table above are the asset allocation targets specified in the fund’s investment strategy. The investment strategy is reviewed at least once a year and may be
amended in response to changes in legislation and/or decisions made by the board of directors following announcements by the Icelandic Financial Supervisory Authority.
The fund‘s website, frjalsi.is, contains a range of information on the fund, including the articles of association, information on payout rules, annual financial
statements, returns on investments and asset allocation.
Ebl. 18.9.1.2.1 / 01.16 / 7 ár+
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