Yes, everyone can contribute to the fund except those who are required under collective wage agreements to choose a specific pension fund.

If you are between the ages of 16 and 70, you are obligated to pay a percentage of your wages toward mandatory pension savings.

Yes, foreign nationals are required to pay a minimum of 12% toward mandatory pension savings. An exception to this is when a foreign national from the EEA works in Iceland on a temporary basis for a foreign company, in which case they are not required to pay into a pension fund under Icelandic law, provided that the worker in question has an E-101 certificate from their home country.

Most collective wage agreements agree upon a rate of 15.5%, where you pay 4% and your employer pays 11.5%. A minimum contribution of 12% of total wages before taxes is required by law, where you pay 4% and your employer pays 8%.

No, it is enough to apply for payout from the pension fund into which you last paid, and that fund will then contact other pension funds on your behalf.