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Increase in pension liabilities for defined contribution schemes
statistikk
2014-12-19T10:00:00.000Z
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, 2013

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Increase in pension liabilities for defined contribution schemes

Pension liabilities in defined contribution schemes increased by 29.2 per cent from 2012 to 2013. 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 19 December 2014
Total
20122013
Earned premiums95 63792 744
Pension payments52 68257 461
Pension liabilities1 354 7351 454 824

Source: Statistics Norway

Figure 1. Pension payments in 2013 in percentage of pension funds, life insurance companies and The Norwegian Public Service Pension Fund

Total pension liabilities increased by 7.4 per cent, from NOK 1 355 billion in 2012 to NOK 1 455 billion in 2013. The largest increase in liabilities was in defined contribution schemes, with an increase of NOK 21.3 billion.

Earned premiums for occupational pensions decreased by 6.4 per cent, to NOK 92.7 billion. The biggest decrease was in private pension schemes, with a 7.9 per cent decrease, while for the public pension schemes the decrease in earned premiums was 5.7 per cent from 2012 to 2013.

The total pension payments increased by 9.1 per cent from 2012 to 2013, to NOK 57.4 billion. The Norwegian Public Service Pension Fund accounts for more than 38 per cent of the payments.