Eignasjóð

Eignasjóð, also known as a self-managed superannuation fund, is a type of retirement savings account in Iceland. It is a form of individual retirement account that allows individuals to save and invest their money for retirement. Eignasjóðs are popular in Iceland due to the country's high savings rates and the government's encouragement of private savings for retirement.

Eignasjóðs are managed by the individual, who can choose their own investments and manage their own portfolio. This gives the individual more control over their retirement savings, but also requires more responsibility and knowledge of investing. The government provides tax incentives for contributions to eignasjóðs, which can help to encourage savings.

Eignasjóðs are regulated by the Icelandic Financial Supervisory Authority (FME). The authority ensures that eignasjóðs are managed in accordance with the law and that the interests of the saver are protected. Eignasjóðs are also subject to annual audits to ensure transparency and accountability.

Eignasjóðs are a popular choice for Icelandic savers due to their flexibility and the tax incentives provided by the government. However, they also come with risks, as the individual is responsible for managing their own investments. It is important for individuals to understand the risks and benefits of eignasjóðs before opening one.