Efling union's annual general meeting took place at the Hilton Reykjavík Nordica yesterday, March 26, and was well attended by members. In her address following the board report, Sólveig Anna Jónsdóttir, chairwoman Efling , went over the whole stage and emphasized that the struggle Efling members was far from over, in fact it would never end. "We have achieved success - and we should be proud of what we have achieved together. But at the same time, we must face the many problems that are still unresolved," she said. Sólveig Anna harshly criticized the housing situation and the impact of high-interest policies on workers. She pointed out that a large portion of members were forced to spend the majority of their income on housing costs and that this would not be resolved. "We have rejected the idea that we can wait for justice. We must seek it ourselves," said Sólveig Anna and emphasized the importance of solidarity and the independent voice of workers. She then warned against planned changes to unemployment insurance, saying they send a “terrible message” to those who need support the most. She also criticized the lack of sanctions for violations of collective agreements and called for legislation against wage theft. At the end of her address, she emphasized that workers’ patience would run out if real action was not taken. “Either employers and the government listen to our demands and respond with real action – or the consequences will be serious as soon as this fall.” Strong financial position and growth Perla Ösp Ásgeirsdóttir, Managing Director Efling , presented the company’s accounts, which show a very strong position. Revenue increased by almost 16% between years and amounted to just over 4.2 billion krónur. Profitability improved significantly and the operating result for the year amounted to 722 million krónur. The company’s total assets increased by almost 1.5 billion krónur and equity now stands at around 17.6 billion krónur. It was also noted that costs had increased less than expected and that the company's operations were characterized by restraint and responsibility. In the case of Perla, it was stated that strong emphasis had been placed on strengthening services to members and building infrastructure for the future, including through investments in housing, information technology and holiday homes. Election of the board of directors announced Þórir Jóhannesson, Vice Chairman Efling , presented the results of the nomination committee. Since no counter-nominations were received, the company's board of directors was elected automatically. The Efling Board of Directors is now composed of the following: Chairman: Sólveig Anna Jónsdóttir Vice Chairman: Þórir Jóhannesson Secretary: Guðmunda Valdís Helgadóttir Treasurer: Michael Bragi Whalley Co-chairmen: Alexa Tracia Patrizi Gréta Íris Karlsdóttir Hjördís Bech Ásgeirsdóttir Hjörtur Birgir Jóhännuson Hlynur Gauti Ómarsson Ian Phillip McDonald Karla Esperanza Barrlaga Ocon Mary Jane Gonzales Munoz Rögnvaldur Ómar Reynisson Sigurjón Ármann Björnsson Sæþór Benjamín Randalsson Thanks to the outgoing board members The meeting also included farewell to the outgoing board members, Guðbjörg María Jósepsdóttir, Innocentia Fiati and Olga Leonsdóttir. They were thanked for their work and welcomed with thunderous applause, as the meeting attendees rose from their seats to thank them for their work. Bylaws approved Proposals for bylaws were also submitted at the meeting. They concerned the merger of two funds within the company and were approved unanimously without comment. The general meeting thus confirmed both Efling strong financial position and a clear policy in the wage struggle, with an emphasis on increased workers' rights and a tougher response to the challenges facing the labor and housing markets.
Due to severe weather affecting the capital area and beyond, you can expect reduced service at the Efling office in Guðrúnartún 1. Phone calls will be answered as usual and messages sent by email will be answered. An orange warning is in effect in the capital area, South and Southwest Iceland. If the weather forecast is correct, severe weather can be expected until after noon. The main routes to and from the capital area are closed. Civil Protection in the capital area has urged people to stay home and not travel unless absolutely necessary. In addition, school hours in primary and kindergartens have been canceled in some cases, but it was announced last night that there would be minimum staffing in all primary schools in Reykjavík. This means that some of the staff at Efling office are having difficulty getting to work, either due to the weather and traffic or because they have to take care of their young children who cannot go to school. As a result, it will not be possible to maintain full service in Guðrúnartún 1. Efling encourages its members not to be on the move unnecessarily and if they are forced to do so, to do so with caution. However, there will be full operations at the company's office in Guðrúnartún tomorrow, Friday, March 27. It is worth pointing out, however, that the office will open later than usual tomorrow, or at 10:00, due to a staff meeting.
The Efling office will open later than usual on Friday, March 28th, due to a staff meeting. The office will open at 10:00 that day. Efling apologizes for any inconvenience this may cause.
The Efling – Trade Union Annual General Meeting 2026 will be held on Thursday, March 26th at 6:00 PM at the Hilton Reykjavík Nordica Hotel, Suðurlandsbraut 2. The building opens at 5:30 PM. The agenda includes traditional AGM business. Agenda: 1. Report of the Board of Directors 2. Audited accounts of the company submitted for approval 3. Election of the Board of Directors, Board of Trustees and Fund Boards 4. Amendments to the Bylaws 5. Other matters Light refreshments will be served. Please note that only full Efling members have the right to attend and vote at the meeting. There is no need to register in advance and all Efling members are encouraged to attend!
On April 1, the salaries Efling members working for the City of Reykjavík, the state, the Association of Icelandic Local Authorities and nursing homes (SFV) will increase according to collective agreements. The salary increase will be paid out on May 1. Efling members are advised to carefully review their pay slips and ensure that the salary increases have paid off. If there are any irregularities, it is important to notify the employer immediately and request immediate correction. Efling staff are invited and prepared to assist members if necessary in this regard. Staff at the City of Reykjavík: Fixed monthly salaries for daytime work shall increase by 3.5%, but never less than 23,750 krónur, unless otherwise follows from the salary tables included in the collective agreement. Salary-related items in the collective agreement will increase by 3.5%, unless otherwise agreed. See the salary table for employees of the City of Reykjavík State employees: Fixed monthly wages for daytime work shall increase by 3.5%, but never less than 23,750 krónur, unless otherwise provided for in the salary tables attached to the collective agreement. Wage-related items in the collective agreement shall increase by 3.5%, unless otherwise agreed. See the salary table for employees of the State Employees of Icelandic municipalities: Fixed monthly wages for daytime work shall increase by 3.5%, but never less than 23,750 krónur, unless otherwise provided for in the salary tables attached to the collective agreement. Wage-related items in the collective agreement shall increase by 3.5%, unless otherwise agreed. See the salary table for Icelandic local government employees Nursing home employees (SFV): Fixed monthly wages for daytime work shall increase by 3.5%, but never less than ISK 23,750, unless otherwise provided for in the salary tables attached to the collective agreement. Wage-related items in the collective agreement shall increase by 3.5%, unless otherwise agreed. See the salary table for nursing home employees (SFV)
Efling union operations were very strong in the 2025 financial year. Revenue increased by 16% between years, earnings improved by 301 million ISK and the union's financial position strengthened considerably. Efling union's annual accounts for 2025 were approved by the union's board of directors today, March 12, 2026. The results of the 2025 financial year are very positive. The union is in a better position than ever before, with a strong revenue base, moderate growth in operating expenses and even improved earnings, at the same time as targeted restructuring for the benefit of its members took place. The total profit for the year amounted to almost ISK 1.3 billion, which is comparable to the profit in 2024. Significant revenue growth Efling total revenue amounted to just over ISK 4.2 billion in 2025, which is ISK 579 million higher than in 2024, or an increase of 15.9%. Membership fees increased by ISK 452 million and income from holiday homes and other services also increased, reflecting both the increase in the number of members and greater activity in the union'soperations. Despite challenges in domestic and foreign markets, including high interest rates and weak returns that affected financial income, Efling has maintained its operations on a secure and positive basis. This highlights the prudence, responsibility and discipline in the union's operations. Costs rose less than expected The unions's costs, including paid benefits and subsidies, rose to ISK 3.5 billion, an increase of 8.6%. However, the union's office operating costs decreased by more than ISK 6 million between years. This clearly demonstrates restraint and good control over the union's operational aspects. Wage and employee costs rose in line with increased projects and the increase in full-time equivalents, in addition to the collective agreement-based wage increases. During the year, numerous investments and renovations were also undertaken that strengthen the union's long-term performance and improve service to members. These include renovation of premises and advances in information technology, as well as significant renovations to holiday homes, which contribute to better utilization and increased quality of service that will benefit members in the future. Performance strengthens The operating result for the year amounted to ISK 722 million, which is a significant improvement from ISK 421 million in 2024. Efling financial result amounted to ISK 563 million. Despite fluctuations in the markets, financial results remained strong. The results show that Efling is responding well to the changing economic environment with targeted and responsible actions. Assets and equity continue to grow Total assets increased by almost ISK 1.5 billion, or 8.9%, and amounted to over ISK 18.2 billion at the end of the year. Major construction and investments in infrastructure and services are key factors in this increase. Equity increased by ISK 1,345 million, or 8.3%, and stood at around ISK 17.6 billion at the end of the year. This reflects Efling 's strong financial position and sustainable operating strategy. Foresight and responsibility yield results "The results of the year reflect how we have placed great emphasis on responsible finances, transparency and forward-looking decision-making. We have worked systematically to improve internal processes, strengthen the union's operating basis and ensure better service for members. The operation is performing well, but due to difficult conditions in the capital markets, the union's return on capital was below expectations," says Perla Ösp Ásgeirsdóttir, Managing Director Efling . While the union's operations have been solid, Efling has also taken targeted measures to build infrastructure for the future, enhance services and ensure that the union stands strong against the challenges that come with a volatile economic environment. Efling better equipped than ever before Financial stability, discretion and progress are now the dominant factors in the union's operations. Efling is therefore better positioned than ever before, financially, organizationally and in terms of service, and will continue on the same path with responsibility, discretion and ambition as its guiding principles. Efling annual accounts are published here on the union's website, but a copy of them is also available at the Efling union office, Guðrúnartún 1, for members to view. Here you can find the signed annual accounts Efling union for the year 2025.
