Gildi's return for 2025

• Net assets: ISK 1,225,144 million
• Investment income: ISK 81,413 million
• Premiums: ISK 56,307 million
• Pension payments: ISK 37,530 million
• Number of members: 286,000

Results for Gildi Pension Fund for 2025 are now available, showing that the mutual insurance division's net nominal return was 7.1% and the real return was 3.3%. Furthermore, the return on all of the fund's investment paths was positive:

Gildi's net assets at the end of 2025 totalled ISK 1,225,144 million, an increase of ISK 98,491 million year on year. Looking at the mutual insurance division's long-term returns, the 10-year average real return is 3.8% and the 30-year return is 4.0%.

This is among the information featured in Gildi's advertisement on the fund's performance in 2025, which is appearing in newspapers around the country these days. The advertisement can be seen further down in this article, and is also available here: Gildi Pension Fund: Activities in 2025

Mutual insurance division - net real return

Mutual insurance and private pension assets

Net assets of the mutual insurance division available for pension payments amounted to ISK 1,213,632 million at the end of 2025, an increase of ISK 97,076 million during the year. The fund's actuarial position, which shows the mutual insurance division's ability to meet its obligations, was -1.8% at the end of 2025, compared with -1.2% the year before. Net assets of the private pension division amounted to ISK 9,721 million at the end of 2025, and of the designated private pension division ISK 1,790 million.

A volatile year in the financial markets

The fund's net investment income was ISK 81,413 million in 2025, compared with ISK 119,873 million the year before. 2025 was a fairly volatile year in the asset markets and was significantly affected by political turbulence abroad. The strengthening of the króna against the US dollar weighed on the return of foreign asset classes, most of which nonetheless produced good returns in local currency terms. Domestic and foreign bonds delivered the best returns, with the fund's listed domestic equity portfolio close behind.

About the fund

Gildi is the largest pension fund in the country by membership, with just over 285,000 members holding rights at the end of 2025. More than 8,600 employers paid premiums to Gildi on behalf of more than 59,000 members last year. Pension payments to members in 2025 totalled ISK 37,180 million, compared with ISK 34,536 million in 2025. The fund's operating costs amounted to ISK 1,700 million in 2025, compared with ISK 1,648 million the year before. The fund's cost ratio, i.e. operating costs as a proportion of average assets, was 0.14% during the year, compared with 0.15% in 2024.

Annual general meeting on 21 April

Gildi's annual general meeting will be held at 17:00 on Tuesday 21 April at Hótel Reykjavík Grand, where, among other things, the fund's performance in 2025 will be reviewed. The meeting will be streamed on the fund's website. The agenda and further arrangements for the meeting will be announced later.