Labour Market Contributions
The Employment office contribution, the maternity contribution and the solidarity pension contribution will be deducted from the wage automatically just like the tax. everyone is part of these
Solidarity Pension 3.00%
*This is valid until 31. Dec 2022
When you receive your wage, it is important that the employer simultaneously transfers the percentage fees for membership, insurance and pension to the Faroese Workers’ Union. If you leave the labour market for a short or long period because of unemployment, illness or for some other reason, you can still continue as a member in the Union and receive the benefits that the Faroese Workers’ Union offers its members. In that case you will transfer a monthly isurance payment of DKK 300 in addition to paying an annual membership fee to your local branch.
Membership fee 1.5%
Fee to local branch (app 0,5)%