Contribution payments simplified
The payroll website offers a simple method to transfer premium contributions and provides easy access to your transaction history. The system provides users with a simplified and secure experience. Once the report has been submitted, a claim can be created via online bank system.
Membership- and health fund fee
Both the membership fee and the contribution to the health fund are calculated from the same salary as the pension fund payments. The membership fee is 0,05% of each member’s received salary. Employers contribute only 1.0% of the salary paid to the member concerned.
Workers' accident insurance
Members of FLM are insured according to the provisions of the collective agreement referred to in their employment contract.
FLM has a collective agreement with the Confederation of Icelandic Enterprise (SA), and members who are employees of companies within the SA network can therefore specify said collective agreement in their employment contract.
FLM has a collective agreement with the Association of Employers (FA), and members who are employees of companies within the FA’s network can therefore specify said collective agreement in their employment contract.
Submit wage reports
There are two ways to submit wage reports to FLM:
A) Electronically and/or directly from the payroll system
Here on our payers website, access is requested for XML communication from the payer’s contribution request to our web service after which a web key is displayed in the payer’s online bank. It is necessary to apply for a web key on the employer’s Icelandic identification number (kennitala). This also gives access to FLM’s payroll website. Electronic returns are both quick and secure.
B) Manually through FLM’s payroll website
If you are unable to proceed directly through the payment system, it can be done by entering a request through the payroll website. FLM handles digital information the same way online banks do, which makes this a safe and secure option.
In both cases, a claim is automatically created in the payer’s online bank.
Please note that submitting a contribution request is not enough. The process is complete only when the contribution request and payment have been received by FLM.
Membership fee – employee contribution: 0.05% of total salary.
Health fund fee – employer’s contribution: 1% of total salary.
Icelandic ID number (Kennitala): 530412-0750
Bank account number: 0114-26-140011
Membership number FLM: 560
Due date: 10th day of each following month.
Last date: The last work day of the month.
Due date and last date of premiums
The due date is the 10th of each following month, e.g. premiums for wages in March are due on April 10.
The last date is the last working day of the following month, e.g. premiums for wages in March are due on the last working day in April.
Interest is calculated from the due date.
A collection process begins if premiums are not paid within one day, as follows:
- A reminder is sent 30 days after the due date.
- The first collection letter is sent 45 days after the due date, with a grace period of 14 days.
- Another collection letter is sent 60 days after the due date, giving a 14-day grace period. This collection letter has a cost of ISK. 1,500.
- A final warning is sent 75 days after the due date, with a grace period of 14 days. A final warning costs ISK. 3,000.
- Claim sent to a lawyer for collection if payment is not received 90 days after the due date.
I think the most important thing is to have good health- and life insurance, and that's exactly what FLM provides for only 0.05% of my salary. Since FLM is an independent trade union, it is very suitable for me.
-Specialist at Deloitte