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Pensions increase
Pensions increase
Pensions and other social security benefits go up 3.8% on 1 January
11.12.2023 - 05:20
Retirement pensions increase by DKK 260-340 per month at the start of next year.
Together with increased payments from Samhaldsfasti (the joint and several labour market pension fund), old-age pensioners will be paid DKK 500-600 more per month.
This amounts to a total monthly payout of DKK 15,520 for a single retirement pensioner.
Early retirement pensions go up by DKK 400-600 per month, and the maximum compensation for lost income increases by about DKK 1,000 to DKK 26,814 per month.
Read the Faroese version of this article here.
More Faroese News in English.
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