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New collective agreement signed

New collective agreement signed

LÍV/VR have signed a new collective agreement with the Confederation of Icelandic Employers (SA).

Key terms of the new collective agreement is a raise of 6,75% effective 1. November 2022 with a defined maximum of 66.000 ISK before taxes. This includes the GDP indexed increase that was scheduled for spring 2023. 

Changes have been made to the VR wage tables and new rates take effect from 1. November 2022. Both the December and summer vacation bonuses are raised.

Icelandic version of the signed agreement as a PDF