The Private Sector Relief Fund is designed for BHM members who work in the private sector. This fund provides a range of grants to its members.

We offer assistance and information about the Public Sector Relief Fund through various channels, including web chat, email, and phone at 595-5100. 

You can also visit our office at Borgartún 27. Our service desk operates from Monday to Thursday, 9:00 to 15:00,  and from 9:00 to 13:00 on Fridays.

Fund members can receive a grant of up to ISK 25,000 for engaging in physical activity and participating in sports.

Members are eligible for a grant of up to ISK 25,000 for engaging in physical activity within a 12-month period. However, this grant does not cover the purchase of equipment or devices aimed at enhancing physical well-being.

Fund members are entitled to a grant of up to ISK 20,000 for cancer screening and risk assessment of heart disease.

Fund members are eligible to receive a maximum grant of ISK 20,000 for cancer screening, further testing, and risk assessment of heart disease within a 12-month period. 

Please note that the grant amount is subject to withholding tax.

Fund members can receive a maximum grant of ISK 75,000 for treatment by certified healthcare professionals.

Fund members can receive a maximum reimbursement of ISK 75,000 per 12-month period for private and/or group therapy conducted by certified professionals. These professionals must hold a license to practice in their relevant field from the Directorate of Health and their respective profession. This includes professions such as physiotherapists, occupational therapists, therapeutic massage therapists, osteopaths, psychologists, nurses, social workers, nutritionists, and chiropractors.

Withholding tax is deducted from the grant amount.

An 80% reimbursement is provided for the purchase of hearing aids over a 36-month period. The maximum grant available is ISK 145,000.

Every 36 months, Fund members can receive up to 80% reimbursement for out-of-pocket costs for purchasing hearing aids. The maximum grant available is ISK 145,000.

Upon the death of a Fund member, death benefits of up to ISK 350,000 are paid.

Former Fund members who pass away within two years after retiring are also eligible for the same death benefits. It's important to note that the right to death benefits will expire if an application is not submitted within 24 months from the date of the member's death. The grant is paid to the legal heir.

Death benefits due to the death of the child of a Fund member:

Upon the death of a Fund member's child under the age of 18, death benefits of ISK 350,000 are paid. These death benefits also apply in the unfortunate events of stillbirth after the 22nd week of pregnancy or miscarriage after the 18th week of pregnancy. The grant is paid to the parent.

Temporary loss of financial support for spouse/common law partner:

An amount equivalent to one month's pay of the deceased is disbursed, calculated based on the average earnings received during the last 4 months, with a maximum of ISK 713,000. In the case where the deceased had dependent child/children under the age of 18, an additional 50% of the monthly salary is provided.

Danarbaetur umsoknarform.pdf

Fund members are granted ISK 100,000 for the birth of each child.

The same grant is also applicable for the adoption of a child under the age of 18 or when a child under 18 years of age is placed in permanent foster care. Additionally, a grant is available in case of stillbirth after the 22nd week of pregnancy or miscarriage after the 18th week of pregnancy.

Applications must be submitted within 24 months of the child's birth or adoption. A maternity/paternity grant is provided to a parent upon presentation of a birth certificate or certificate of registration of a child in Registers Iceland (Þjóðskrá).

Fund members are eligible to receive a maximum grant of ISK 125,000 for in vitro fertilization treatments.

A maximum grant of ISK 125,000 is provided for artificial insemination, microscopic, or in vitro fertilization treatments every 24-month period. The grant cannot surpass out-of-pocket expenses. Medicinal product purchases are not covered by this grant.

Withholding tax is deducted from the granted amount.

Fund members are eligible for a maximum grant of ISK 55,000 to undergo treatment for work-related trauma.

Fund members can receive a grant of up to ISK 55,000 to address work-related trauma or cope with unexpected employment termination. This treatment must be provided by a certified healthcare professional and should be requested by a union representative or the union itself. The grant is renewable every 36 months, and withholding tax is deducted from the granted amount.

Work related trauma or unexpected employment termination 

Fund members can receive a maximum grant of ISK 170,000 for adoption expenses.

Each Fund member can receive a grant of up to ISK 170,000 for adoption costs. Grant applications must be submitted within 24 months of the expenditure. However, the grant cannot exceed the actual out-of-pocket expenses. Withholding tax is deducted from the grant amount.

Sickness benefits are provided to fund members during unpaid absence from work, equivalent to 80% of basic payments earned in the last 4 months before being unable to work.

Questions regarding sickness per diem allowance

FAQ on the Public Sector Relief Fund's sickness per diem allowance

FAQ on Private Sector Relief Fund's sickness per diem allowance

The Private Sector Relief Fund is dedicated to assisting BHM members employed in the private sector. This Fund provides support to its members in a range of ways. For instance, it aids in compensating for income loss during unpaid leave resulting from sickness or accidents, while also promoting rehabilitation and preventive measures.

To apply for a grant from the fund, you can do so through My BHM (Mínar síður).  It's important to note that according to the Fund's allocation rules, a principle is in place where premium fees must have been paid for a Fund member for a minimum of 6 months, including 3 consecutive months, prior to the event that necessitates the grant application, such as a loss of income or expenses covered by the Fund. Exceptions to this rule can be made under certain circumstances.

Rules of allocation BHM Sickness fund 01.01.2023.pdf

Life can present unforeseen challenges. Members of the Sickness Fund for the general labour market have the opportunity to apply for a sickness per diem allowance in the event of temporary loss of income due to illness or accidents that hinder their ability to work.

The Private Sector Relief Fund

Services

Physical activity

Cancer screening

Physical and mental treatment

Hearing aids

Death benefits

Maternity or paternity grant

In vitro fertilisation treatment

Work related trauma or unexpected employment termination

Adoption

Sickness benefits

The Pri­vate Sect­or Rel­ief Fund

Services

Physical activity

Cancer screening

Physical and mental treatment

Hearing aids

Death benefits

Maternity or paternity grant

In vitro fertilisation treatment

Work related trauma or unexpected employment termination

Adoption

Sickness benefits

The Private Sector Relief Fund