Pensions increase

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.

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