We enabled access to information about pension savings through a new pensions portal accessible through the Bank’s website. This new self-service solutions enables users to create contracts for mandatory and/or private pension savings, alter contracts, apply for disbursement of pension savings and maintain an overview of all things pension, such as contributions, benefits rights and pension payments.
When the authorities granted temporary dispensation to withdraw private pension savings, we were quick to respond by making the application process completely electronic. Around 4000 individuals who own rights in Íslenski lífeyrissjóðurinn, save with Lífeyrisbók pension savings account or foreign pension programmes took advantage of this option and the average amount of withdrawal was one million króna.
Clear policy on responsible investment
We continued the implementation of Landsbankinn’s and Landsbréf’s strategy on responsible investment. We have been actively engaged in this process for several years now and consider it of high importance to fully integrate sustainability concerns in core operations. Landsbankinn's policy on responsible investment is set having regard for the United Nations' Principles on Responsible Investment, of which Landsbankinn has been a member since 2013. We are also a member of UN PRB, the UN Global Compact and a founding member of IcelandSIF. Our policy reflects work practices that have been shaped in recent years, as well as the challenges the future holds. The next step is to include ESG issues in the process of investment decisions in a structured manner, both as relates to listed and unlisted equities and bonds. As regards responsible investment, our practices build on active communication whereby exclusion is a rare exception.