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Increase in pension liabilities for defined contribution schemes
statistikk
2013-12-04T10:00:00.000Z
Banking and financial markets
en
tjenestepensj, Occupational pensions, pension schemes, pensions, pension payments, pension liabilities, defined contribution schemes, defined benefit schemes, individual pensionsFinancial institutions and other financial corporations, Banking and financial markets
false

Occupational pensions, 2012

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Increase in pension liabilities for defined contribution schemes

Pension liabilities in defined contribution schemes increased by 33.4 per cent from 2011 to 2012. The main reason for the increase is that more and more companies are switching from defined benefit pension schemes to defined contribution schemes.

Occupational pension and individual pension. HovedtabellPublished 4 December 2013
Total
20112012
Earned premiums82 25995 637
Pension payments51 29452 695
Pension liabilities1 236 1661 354 741

Source: Statistics Norway

Figure 1. Pension payments in 2012 in percentage of pension funds, life insurance companies and The Norwegian Public Service Pension Fund

Total pension liabilities increased by 9.6 per cent, from NOK 1 236 billion in 2010 to NOK 1 355 billion in 2012. The largest increase in liabilities was in defined contribution schemes, with an increase of 33.4 per cent.

Earned premiums for occupational pensions increased by 16.3 per cent, to NOK 95.6 billion. The biggest increase was in public pension schemes in life insurance, with a 22.3 per cent increase, while for the private pension schemes the highest growth was in pension funds, by 27.7 per cent.

The total pension payments increased by 2.7 per cent from 2011 to 2012, to NOK 52.7 billion. The Norwegian Public Service Pension Fund accounts for more than 38 per cent of the payments.