EFcA Pensiun Fund

EFcA Pensiun Fund is a single-employer corporate pension based in Reykjavik, Iceland. Established in 1974, the fund provides pension benefits to FIA members, their spouses, and children pensions. It is a defined benefit plan providing retirees with a predetermined monthly retirement benefit upon reaching a specific age. The retirement benefit paid to a retiree is calculated using a formula that often employs years of credited service under the plan and salary information. The retirement benefit is payable to the employee upon attainment of their normal retirement age for the remainder of his/her lifetime. The assets of the pension fund are managed and governed by the Board of Directors.