These stipulate, among other things, the minimum wage rates which must be adhered to by employers. Information on wage rates and other contractual rights may be obtained from the trade union in question. According to Icelandic law, everybody is obliged to pay into a pension fund which will subsequently pay old age or disability pension. The right to such pensions depends on how long the individual concerned has paid into the pension fund. Employers are responsible for such payments and are obliged to deduct a certain proportion of them from the wages of their employees.
All wage earners have the right to a paid vacation.
Membership of a trade union is a prerequisite for obtaining unemployment benefit. It is advisable to keep pay slips in order to compare them with statements of pension fund contributions and holiday periods.