The Constitution and the Use of Pension Funds

This article discusses the constitutional limitations on requiring Icelandic pension funds to utilize the money deposited in them in a certain manner. The constitutionality of different kinds of state intervention on pension fund spending (permitting vs. requiring the pension funds to participate in...

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Main Author: Helgadóttir, Ragnhildur
Format: Article in Journal/Newspaper
Language:Icelandic
Published: Stjórnsýslustofnun 2013
Subjects:
Online Access:https://ojs.hi.is/index.php/irpa/article/view/a.2013.9.1.10
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spelling fticelandunivojs:oai:ojs.pkp.sfu.ca:article/919 2023-08-20T04:07:33+02:00 The Constitution and the Use of Pension Funds Stjórnskipunin og meðferð á fé lífeyrissjóða Helgadóttir, Ragnhildur 2013-06-15 application/pdf https://ojs.hi.is/index.php/irpa/article/view/a.2013.9.1.10 isl ice Stjórnsýslustofnun https://ojs.hi.is/index.php/irpa/article/view/a.2013.9.1.10/pdf_65 https://ojs.hi.is/index.php/irpa/article/view/a.2013.9.1.10 Icelandic Review of Politics & Administration; Vol. 9 No. 1 (2013); 191-210 Stjórnmál og stjórnsýsla; Bnd. 9 Nr. 1 (2013); 191-210 1670-679X 1670-6803 Constitution of Iceland pension funds property rights social rights Stjórnarskrá lífeyrissjóðir eignarréttur réttur til lágmarksframfærslu info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article 2013 fticelandunivojs 2023-08-01T12:28:45Z This article discusses the constitutional limitations on requiring Icelandic pension funds to utilize the money deposited in them in a certain manner. The constitutionality of different kinds of state intervention on pension fund spending (permitting vs. requiring the pension funds to participate in schemes that either do or do not yield returns for the funds) will be examined. The examination will primarily be based on the Constitution’s article 76 on social rights, article 72 on property rights and unwritten constitutional requirements of legality, proportionality and equality in legislation. It turns out that art. 76 of the Icelandic Constitution carries little weight in this area. However, the protection of property entails that it is constitutionally untenable to either permit or require pension funds to participate in schemes or projects which do not yield a return. The unwritten constitutional principles also lead to the conclusion that some state intervention would be unconstitutional. The conclusion is that the statutory requirement that everyone participate in pension funds leads to considerable constitutional limitations on state intervention in pension fund spending. Í greininni er fjallað um það hvaða takmarkanir stjórnarskrá og meginreglur stjórnskipunarréttarins setja því hversu mikil og hvernig afskipti ríkið geti haft af því hvernig lífeyrissjóðir nota féð sem í þeim er. Fjallað er um hvernig mismunandi tegundir afskipta (þ.e.a.s. heimildir og skyldur til að leggja fé í ýmist arðbær eða óarðbær verkefni) af því hvernig lífeyrissjóðir nota féð horfa við gagnvart ákvæðum 76. gr. stjórnarskrár um lágmarksframfærslu og 72. gr. hennar um eignarrétt auk skilyrða um að boð og bönn sé að finna í lögum, hafi samfélagslegan tilgang, séu almenn og gæti jafnræðis og meðalhófs. Í ljós kemur að 76. gr. hefur lítil áhrif vægi í þessu sambandi en vernd eignarréttarins leiðir til þess að tæpast er hægt að heimila lífeyrissjóðum né skylda þá til að taka þátt í verkefnum sem ekki eru arðbær. Þá leiða aðrar ... Article in Journal/Newspaper Iceland University of Iceland: Peer Reviewed Journals
institution Open Polar
collection University of Iceland: Peer Reviewed Journals
op_collection_id fticelandunivojs
language Icelandic
topic Constitution of Iceland
pension funds
property rights
social rights
Stjórnarskrá
lífeyrissjóðir
eignarréttur
réttur til lágmarksframfærslu
spellingShingle Constitution of Iceland
pension funds
property rights
social rights
Stjórnarskrá
lífeyrissjóðir
eignarréttur
réttur til lágmarksframfærslu
Helgadóttir, Ragnhildur
The Constitution and the Use of Pension Funds
topic_facet Constitution of Iceland
pension funds
property rights
social rights
Stjórnarskrá
lífeyrissjóðir
eignarréttur
réttur til lágmarksframfærslu
description This article discusses the constitutional limitations on requiring Icelandic pension funds to utilize the money deposited in them in a certain manner. The constitutionality of different kinds of state intervention on pension fund spending (permitting vs. requiring the pension funds to participate in schemes that either do or do not yield returns for the funds) will be examined. The examination will primarily be based on the Constitution’s article 76 on social rights, article 72 on property rights and unwritten constitutional requirements of legality, proportionality and equality in legislation. It turns out that art. 76 of the Icelandic Constitution carries little weight in this area. However, the protection of property entails that it is constitutionally untenable to either permit or require pension funds to participate in schemes or projects which do not yield a return. The unwritten constitutional principles also lead to the conclusion that some state intervention would be unconstitutional. The conclusion is that the statutory requirement that everyone participate in pension funds leads to considerable constitutional limitations on state intervention in pension fund spending. Í greininni er fjallað um það hvaða takmarkanir stjórnarskrá og meginreglur stjórnskipunarréttarins setja því hversu mikil og hvernig afskipti ríkið geti haft af því hvernig lífeyrissjóðir nota féð sem í þeim er. Fjallað er um hvernig mismunandi tegundir afskipta (þ.e.a.s. heimildir og skyldur til að leggja fé í ýmist arðbær eða óarðbær verkefni) af því hvernig lífeyrissjóðir nota féð horfa við gagnvart ákvæðum 76. gr. stjórnarskrár um lágmarksframfærslu og 72. gr. hennar um eignarrétt auk skilyrða um að boð og bönn sé að finna í lögum, hafi samfélagslegan tilgang, séu almenn og gæti jafnræðis og meðalhófs. Í ljós kemur að 76. gr. hefur lítil áhrif vægi í þessu sambandi en vernd eignarréttarins leiðir til þess að tæpast er hægt að heimila lífeyrissjóðum né skylda þá til að taka þátt í verkefnum sem ekki eru arðbær. Þá leiða aðrar ...
format Article in Journal/Newspaper
author Helgadóttir, Ragnhildur
author_facet Helgadóttir, Ragnhildur
author_sort Helgadóttir, Ragnhildur
title The Constitution and the Use of Pension Funds
title_short The Constitution and the Use of Pension Funds
title_full The Constitution and the Use of Pension Funds
title_fullStr The Constitution and the Use of Pension Funds
title_full_unstemmed The Constitution and the Use of Pension Funds
title_sort constitution and the use of pension funds
publisher Stjórnsýslustofnun
publishDate 2013
url https://ojs.hi.is/index.php/irpa/article/view/a.2013.9.1.10
genre Iceland
genre_facet Iceland
op_source Icelandic Review of Politics & Administration; Vol. 9 No. 1 (2013); 191-210
Stjórnmál og stjórnsýsla; Bnd. 9 Nr. 1 (2013); 191-210
1670-679X
1670-6803
op_relation https://ojs.hi.is/index.php/irpa/article/view/a.2013.9.1.10/pdf_65
https://ojs.hi.is/index.php/irpa/article/view/a.2013.9.1.10
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