Occupational pensions
Updated: 3 July 2024
Next update: Not yet determined
| Total | ||
|---|---|---|
| 2022 | 2023 | |
| Earned premiums | 156 076 | 196 827 |
| Pension payments | 95 810 | 102 514 |
| Pension liabilities | 2 379 505 | 2 648 583 |
Selected tables and charts from this statistics
- Occupational pension and individual pensionDownload table as ...Occupational pension and individual pension1
2019 2020 2021 2022 2023 Occupational pension Earned premiums 126 991 119 025 149 593 156 076 196 827 Defined benefit schemes 94 703 84 967 108 764 111 776 146 773 Public pension schemes 79 490 71 647 93 514 95 935 129 061 Life insurance companies 45 540 38 442 58 495 59 782 82 760 Pension funds 10 177 8 954 13 688 13 881 18 796 The Norwegian Public Service Pension Fund2 23 773 24 251 21 331 22 271 27 505 Private pension schemes 15 213 13 320 15 250 15 842 17 712 Life insurance companies 8 852 8 250 8 837 8 417 9 843 Pension funds 6 361 5 070 6 413 7 424 7 869 Defined contribution schemes 32 288 34 058 40 829 44 300 50 055 Private pension schemes 32 288 34 058 40 829 44 300 50 055 Life insurance companies 32 288 34 058 40 829 44 300 50 055 Pension payments 80 442 83 939 88 906 95 810 102 514 Defined benefit schemes 78 173 81 208 85 763 91 359 98 526 Public pension schemes 56 444 58 563 62 260 66 803 72 597 Life insurance companies 22 936 24 089 25 761 27 985 30 686 Pension funds 4 464 4 916 5 266 5 691 6 217 The Norwegian Public Service Pension Fund 29 044 29 558 31 233 33 127 35 695 Private pension schemes 21 729 22 645 23 503 24 556 25 929 Life insurance companies 16 190 16 904 17 592 18 295 19 386 Pension funds 5 539 5 741 5 911 6 261 6 543 Defined contribution schemes 2 267 2 731 3 143 4 451 3 988 Private pension schemes 2 269 2 731 3 143 4 451 3 988 Life insurance companies 2 269 2 731 3 143 4 451 3 988 Pension liabilities3 2 051 825 2 129 009 2 292 968 2 379 505 2 648 583 Defined benefit schemes 1 752 695 1 773 998 1 861 691 1 953 276 2 126 261 Public pension schemes 1 211 456 1 225 154 1 301 761 1 390 661 1 552 095 Life insurance companies 530 810 526 967 567 622 610 001 675 032 Pension funds 118 266 122 613 133 239 143 360 158 863 The Norwegian Public Service Pension Fund 562 380 575 574 600 900 637 300 718 200 Private pension schemes 541 239 548 844 559 930 562 615 574 166 Life insurance companies 384 803 388 632 396 264 395 239 402 490 Pension funds 156 436 160 212 163 666 167 376 171 676 Defined contribution schemes 299 130 355 011 431 277 426 229 522 322 Private pension schemes 299 130 355 011 431 277 426 229 522 322 Life insurance companies 299 130 355 011 431 277 426 229 522 322 Banks4 0 0 0 0 0 Individual pension Earned premiums All pension providers 3 290 3 448 3 731 3 208 3 328 Life insurance companies 3 290 3 448 3 731 3 208 3 328 Banks 0 0 0 0 0 Pension payments All pension providers 6 276 6 154 6 065 5 802 5 844 Life insurance companies 6 276 6 154 6 065 5 802 5 844 Banks 0 0 0 0 0 Pension liabilities All pension providers 78 496 72 256 74 325 71 095 73 885 Life insurance companies 76 588 71 807 73 894 70 683 73 495 Banks 1 908 449 431 413 390 1In life insurance companies, pension funds Norwegian Public Service Pension Fund and banks (only entitlements). Do not include defined contribution schemes in mutual funds management companies. 2Includes 65 per cent of total earned premiums from the Norwegian Public Service Pension Fund. 3Includes the life insurance companies obligations related to insurance pensions and the pension funds premium reserves. 4From 2015 there is no distinguish between individual pensions and defined contribution pensions in employment under pension liabilities of banks. Explanation of symbolsDownload table as ...
About the statistics
The statistics show all pension benefits outside the National Insurance Scheme. What is included in the statistics is public service pensions that are defined benefit and private occupational pensions that can be both defined benefit and defined contribution.
The information under «About the statistics» was last updated 22 March 2021.
Public occupational pensions:
Government occupational pensions provide a so-called gross pension benefit.
This means that the benefits from the pension scheme are coordinated with
the benefits from the National Insurance Scheme that are paid at retirement age.
The total pension payment will be at least 66 per cent of the pension base -
regardless of the level of benefits from the National Insurance Scheme.
The agreement is subject to a collective agreement. Gross pension schemes are always defined benefit.
Private occupational pensions:
The scheme is based on a net pension benefit: This means that the benefits from the private pension scheme provide a supplementary pension to the National Insurance Scheme. There is thus no coordination between Folketrygden's benefits and the occupational pension. The net pension scheme does not ensure total payments in the same way as the gross scheme: If the benefit from Folketrygden decreases, the total pension payments will decrease correspondingly. Net pension schemes can be defined benefit or defined contribution. For defined benefit plans, the pension is normally determined as a given share of final salary, either as a gross level including National Insurance or as a net supplement to the National Insurance Scheme. Defined contribution pension is a pension scheme where the employer pays an annual agreed contribution, normally as a percentage of salary.
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Name: Occupational pensions
Topic: Banking and financial markets
Division for Financial Markets Statistics
National level.
Annual
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Statistics on occupational pensions were first published as a magazine article in 2010. Since then, there has been an annual publication of occupational pensions.
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The Financial Supervision Act §1 and 4 and the Statistics Act §3-2
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The population is all pension funds, life insurance companies and the Government Pension Fund (SPK).
The statistics are based on accounting data for pension funds, life insurance companies and the Government Pension Fund (SPK).
The statistics are based on accounting data for pension funds, life insurance companies and the Government Pension Fund (SPK).
The accounting statistics are based on total counts.
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