Velferðarkerfið

Velferðarkerfið is the social security system of Iceland, providing various benefits and services to its citizens. The system is widely considered comprehensive and universal, ensuring that everyone residing in Iceland, regardless of their nationality or employment status, has access to essential social services.

The Velferðarkerfið is managed by the Social Security Institute of Iceland (Sólarvöllur), which operates under the Ministry of Welfare. The system encompasses several key areas, including healthcare, education, and financial support. Citizens can receive financial assistance for various expenses, such as child care, education, and housing, in addition to being eligible for free or low-cost medical care, including dental and optical services.

One of the unique aspects of the Velferðarkerfið is its emphasis on equality and universality. Icelanders who reside in the country for at least one year are considered eligible to access the services offered, with the payment of social insurance fees made by the employer and in some cases by the employee. As a result, Iceland has one of the lowest poverty rates in the world due to the comprehensive coverage of the social security system.

Velferðarkerfið is also designed to promote the sustainability of the economy and the social welfare system as a whole. By providing a comprehensive safety net and investing in healthcare and education, the Icelandic government aims to ensure the well-being of its citizens and promote economic growth.