Private Pension Plans

Your Future in Safe Hands

We provide gold-standard private pension plans in collaboration with Bayern Versicherungskammer AG (VKB) 

Increased flexibility

Bayern Líf has decided to increase flexibility on down payments so that Bayern Líf's Private Life Insurance and Specified Private Life Insurance are suitable for those who wish to use their credit and deposits to pay towards their housing loans and mortgages despite contract statements that prohibit such use of down payments.
What we do

Bayern Líf's Role

Bayern Versicherungskammer AG (VKB) / Bayern Líf offers private property savings for Icelanders. The savings are based on law no. 129/1997 on compulsory insurance of pension rights and the operations of pension funds.

VKB is under the supervision of Bafin, the German financial supervisory authority. VKB's Icelandic operation is under the supervision of the Icelandic Financial Supervisory Authority (FME), ensuring that consumer protection, money laundering prevention, and investment policy are in line with the aforementioned law.

The operations of PM-Premium Makler Gmbh, which brokers VKB's products, are under the supervision of both Bafin and FME.
Your assets are as secure as possible. Bayern Versicherungskammer AG has been managing insurance and pensions for Germans for over 80 years.
Savings are guaranteed by the German government and held in Euros. Icelandic inflation and currency depreciation have little effect on your savings.
Interest accumulation on short-term savings is slower in the German pension system than in Iceland, but it is much more stable and secure.

Private Property Pension Savings

Contributing to a pension fund is mandatory in Iceland. Your savings with us represent an addition to the pension income you will receive. Bridge the income gap at the end of your career by setting up a private savings account, and receive the equivalent of a 2% pay raise.

Income tax on your savings is only paid at the time of withdrawal.

Bayern Líf offers such savings in the form of private property insurance.

By investing in the German pension system, you will receive a pay raise at withdrawal and enjoy Icelandic tax benefits at the same time.

Specified Private Property

Employers are obligated to contribute 11.5% on top of your salary to a pension fund. You have the right to allocate 3.5% of that contribution to a private property fund. Unlike regular pension savings, private property savings are inherited upon death. You decide into which fund your savings are paid.

By investing your savings with us, you benefit from interest in euros with a minimum 90% guarantee on your principal.

Interest Savings

Having a contingency fund is a great way to save. With Bayern Líf's Interest Guarantee, you can make monthly contributions to a private savings fund that is there for you when the need arises.

Use the fund as savings for your children, additional savings for yourself to improve your quality of life, or a reserve in case of emergencies.

Your savings are exempt from asset and inheritance taxes, but capital income tax must be paid on the interest.

Bayern Líf's experts manage the growth of your assets through investments in the top 100 largest companies in the world.

Accident Insurance

Accidents don't give warnings. They can happen anytime, anywhere. This is where accident insurance comes in. No matter where or when an accident occurs, you are covered.

German accident insurance differs from Icelandic in that it has standardized compensation ranges, higher disability benefits, and the possibility of lifelong pensions.

Simply apply by phone at: +354 577 2025

Affordable Advice
Our advisors are happy to assist you in planning your savings in the best way for you and your family.
Spread the Risk
Diversifying your risk is always a good idea. Your mandatory pension is stored in Iceland in Icelandic Krona. Store additional funds in another currency for lower overall risk.
A Gift to You and Yours
Private property pension savings are inheritable and exempt from inheritance tax. You're not only saving for yourself but your loved ones as well.