Increase in pension liabilities

Total pension liabilities in occupational pensions

In private pension schemes, the pension liabilities increased by 8.4 per cent, with the highest growth in defined contribution schemes. The pension liabilities in defined contribution schemes were NOK 174.5 billion in 2016, an increase of 22.1 per cent compared to 2015, according to new figures from the statistics Occupational pensions.

In public pension schemes, the liabilities increased by 5.5 per cent between 2015 and 2016.

Earned premiums

Earned premiums for occupational pensions increased by 1.7 per cent to NOK 102 billion in 2016.

In 2016, the earned premiums for occupational pensions in private pension schemes were NOK 41.2 billion. NOK 23.2 billion of this stemmed from the defined contribution pension schemes.

Earned premiums for public occupational pension schemes increased by 7.6 per cent in the same period, to NOK 60.8 billion.

Pension payment

Pension payments increased by NOK 2.9 billion in 2016, to NOK 68.3 billion. The life insurance companies have 50 per cent of the total pension payments or NOK 34.5 billion, while The Norwegian Public Service Pension Fund accounts for 37 per cent of the payments.