Policy Statement of the Socialist Master League

Socialist Master League (55+):Policy Statement

The Socialist Master League completely rejects the ideology of neoliberalism, which, with its capitalist policies, leads to the exploitation of those who have completed their working lives and simultaneously condemns older people to poverty through cuts in their livelihood. This has been done alongside a flood of deceptive words and empty promises from Icelandic political parties about improvements, especially in the run-up to elections.

The general retirement age in Iceland is 67 years, and research shows that a large group of people who have completed their working lives live in very difficult circumstances, when the situation should actually be the opposite, that older people should live in comfortably good conditions.

This is due to repeated betrayals by political parties towards the elderly in the form of cuts, which has led to the pension fund system not delivering as intended due to cuts in old-age pensions from the Social Insurance Administration.

Originally, old-age pensions from the state entailed undisputed rights for those who reached retirement age, and the pension fund system with its accumulation funds was initially set up as an addition to that system to improve the living conditions of the elderly and came into being at the time following collective wage agreements in the labor market.

Both of these have been severely cut. On the one hand, due to cuts by the state in old-age pensions because of payments from pension funds and other income, on the other hand, due to the speculation of corrupt business leaders and politicians with the nation's pension funds, but in the 2008 collapse, at least 480 billion of the nation's pension savings were lost. Now, news is again arriving, almost weekly, about losses of various pension funds on investments, some of which seem no less reckless than they were before the collapse.

It is a disgrace how the political and economic elite in this country has treated people who have completed their working lives. This must stop.

The Socialist Master League declares that the following are the undisputed demands of Socialists, aged 55 and older, for a new arrangement regarding the living conditions of senior citizens.

• All cuts to old-age pensions from the State Social Insurance Administration, whether due to payments from pension funds, employment income, or otherwise, shall be abolished immediately, and all citizens who have reached the age of 67 shall receive an uncut old-age pension. The few cases of wealthy individuals who do not actually need an old-age pension will repay it through a high-income tax.
• The amount of the old-age pension shall always follow the average minimum wages in the country in collective wage agreements in the general and public labor market, which are currently around 351,000 per month, and this shall be legislated. The old-age pension shall then not be below the official subsistence level once such a level has been legislated.
• Payments from pension funds shall be flexible, so that those who have completed their working lives can withdraw the majority, or even all, of their pension rights during the first ten years, when health and stamina for travel and the ability to pursue hobbies are at their best.
• Housing for senior citizens shall be reorganized to ensure that upon retirement, individuals do not have to worry about not having adequate housing. This shall be ensured through robust development of social housing for senior citizens in population centers that offer comprehensive services for all who live there. Likewise, a major effort shall be made in building nursing homes for those who require such services.

Socialists 55+ want a society built on cooperation among people, friendship, and trust, not on competition and speculation where fear of the future lurks around every corner and worries about old age are all-consuming.

This is entirely possible, this needs to be done, and Socialists will do this. But for this, we need public support and solidarity. The largest age cohort in Icelandic history, people born in 1960, will soon retire. If you are one of them, this affects you. If you are a descendant of this large group, this affects your parents or your grandparents, and ultimately, of course, you too.

Those of us who get to live will grow old. That is good and beautiful, and there should be dignity in it. So join us, because this is also your issue, whether you are twenty-five, fifty-five, or older. See you in the struggle.

Battle greetings!Socialists 55+