Sickness Fund

Any member, who has paid its membership dues for three months, has the right to receive a grant or support from the Sickness Fund.

All grants from the Fund are taxed, and the amount is deducted before paying each grant.

The fund accepts receipts/bills that are up to 1 year old.

Each application must be accompanied by: Detailed invoices with the applicants name and a receipt or transfer confirmation for the payment of each invoice. The invoice must have the signature/stamp/logo of the issuer of the invoice with information about name, job title, ID number and address. The number of times and date of treatment must be stated in the invoice.

A member who works at a flight school must either submit a confirmation of employment ratio from the employer or submit a total flight time for teaching in the last 3 months with a grant application. Assuming that 100% employment, a flight instructor teaches an average of 56 flight hours per month. The fund´s grants are paid in proportion to the employment rate.

In March of each year, the fund pays a general sickness grant to all those who have contributed to the fund over the preceding year. The fund retains an amount that is equal to ISK 30.000 per member on February 2010 (amount is linked to the consumer price index and changes accordingly), as described in article 7.5 in the Fund’s regulations. The rest is paid out in ratio to each member’s payment, according to article 7.6 and 7.7. The Sickness Fund does not gather funds except to cover basic operational cost and sickness payment to members on a regular basis.

Due to the previously mentioned general sickness grant, paid out in March each year, the board of the Sickness Fund has decided that other grants are only provided if a member is dealing with a long-term illness, or has suffered a serious accident or shock from which significant cost has resulted. It is hard to quantify exactly what the Fund supports and what not, but the board usually looks to see if the grant could help the member to keep his/her flight certificate or can regain it after losing it.