Iceland's SL Pension Fund and Almenni-Lífsverk Pension Fund have signed a merger agreement that, if approved, would create the country's fourth-largest pension fund. The talks between the two funds were first announced in May, with the merged pension fund now set to begin operations on 1 January 2027. Based on assets at the end of 2026, it would have total assets under management of ISK 1.035trn.