Outcome of Gildi's 2026 Annual General Meeting

Gildi Pension Fund's annual general meeting was held yesterday, Tuesday 21 April, at 17:00 at Hótel Reykjavík Grand.

The meeting heard that Gildi's total assets at the end of 2025 amounted to just over ISK 1,225 billion, an increase of just over ISK 98 billion year on year. The nominal return of Gildi's mutual insurance division was 7.1% in 2025, and the net real return was 3.3%. The fund's actuarial position was negative by 1.8% at the end of 2025, a deterioration of 0.6 percentage points year on year.

Information on the fund's operations, returns and assets can be found in the detailed annual accounts and annual report for 2025, which were presented and discussed at the meeting.

Proposals for amendments to the articles of association were presented at the meeting and approved thereafter. Information on the amendments to the articles of association, the annual report, the annual accounts and other meeting documents on the annual general meeting page. Presentation slides from the speakers can also be found there.

New private pension paths

At the meeting, Davíð Rúdólfsson, CEO of Gildi, presented planned changes to the fund's private pension division, in which the number of investment paths will be increased and the product range improved. The new paths, which will be introduced by the fund over the coming months, are as follows:

The fund will thus soon offer more paths for growing private pension savings. Among other things, a new path with a higher proportion of equities than the fund has previously offered will be available, i.e. 70% equities and 30% bonds. A new investment path in which the entire portfolio is invested in foreign currency will also be offered. The fund will additionally offer an age-based path, in which members are automatically moved between investment paths according to age.

Composition of the board and election to the remuneration committee

The following representatives were elected or appointed to Gildi's board at the meeting, to serve until the 2028 annual general meeting.

Representatives of employees' member organisations:

• Guðmundur Helgi Þórarinsson
• Gundega Jaunlinina

Representatives of the Confederation of Icelandic Employers (SA):

• Bjarnheiður Hallsdóttir
• Gunnar Ármannsson

On behalf of the trade unions, Árni Bjarnason was elected alternate board member, and Jakob E. Jakobsson was appointed alternate board member on behalf of the Confederation of Icelandic Employers.

Following the annual general meeting, the fund's board is composed as follows:

• Perla Ösp Ásgeirsdóttir, Chair
• Björgvin Jón Bjarnason, Deputy Chair
• Bjarnheiður Hallsdóttir
• Guðmundur Helgi Þórarinsson
• Gundega Jaunlinina
• Gunnar Ármannsson
• Inga Jóna Friðgeirsdóttir
• Stefán Ólafsson

Alternate board members:

• Árni Bjarnason
• Gróa Björg Baldvinsdóttir
• Hólmfríður Kristjánsdóttir
• Jakob E. Jakobsson

Gunnar Jónsson and Íris Hannah Atladóttir were also appointed by SA to the fund's remuneration committee. On behalf of the employees, Þórir Jóhannesson was elected, and alongside him, Gildi's board chair also sits on the committee.

Other matters and conduct of the meeting

At the meeting, the fund's remuneration policy was confirmed, with no changes made to it from the previous year. A proposal on board members' fees was also approved. It was confirmed that Deloitte ehf. will continue as the fund's auditor, and Helgi Friðjón Arnarson was elected as an external member of the audit and risk committee.