Iceland to Become First Nation Requiring Equal Pay

Iceland plans to become the first nation to pass legislation requiring equal pay for employees regardless of gender, NPRreports.

Iceland Prime Minister Bjarni Benediktsson announced yesterday the plan at an International Women's Day conference in New York, saying: "Gender equality benefits all of us... There is a standard which we have already taken up, but not all are following it."

Iceland's new law would require companies with more than 25 employees to show that they are paying men and women alike for the same jobs, with review processes conducted every three years.

The country has been ranked as the world's best in terms of income equality between men and women, though females still make 14 to 18 percent less than their male counterparts.

While other countries, and the state of Minnesota, have equal-pay policies, this law would be the first to require both private and public corporations to pay their female employees the same as the male ones.

"It is a burden to put on companies to have to comply with a law like this," Benediktsson said. "But we put such burdens on companies all the time when it comes to auditing your annual accounts or turning in your tax report... You have to dare to take new steps, to be bold in the fight against injustice."