Private Sector Occupational Pension Schemes | Max-Planck-Institut für Sozialrecht und Sozialpolitik - MPISOC

Private Sector Occupational Pension Schemes

Obligatorisk tjenestepensjon, OTP

1 The wage-indexed basic amount ‘G’ (grunnbeløpet) plays a central role in calculating contributions and benefits under the pension system. 1 G amounts to around 1/6 of average annual full-time labour income (NOK 99,858 as of 1 May 2019).

Legal Basis: Act on Mandatory Occupational Pensions in Private Employment Relationships (Lov om obligatorisk tjenestepensjon i private arbejdsforhold (OTP-loven)); Act on Defined Contribution Pensions in Work Relations (Lov om innskuddspensjon i arbeidsforhold (innskuddspensjonsloven)); Act on Defined Benefit Pensions (Lov om foretakspensjon (foretakspensjonsloven)); Act on Occupational Pensions (Lov om tjenestepension (tjenestepensjonsloven)).