Statutory Old Age Pension Scheme as Part of the National Insurance System | Max-Planck-Institut für Sozialrecht und Sozialpolitik - MPISOC
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Statutory Old Age Pension Scheme as Part of the National Insurance System

Folketrygden

1 This contribution is a type of tax, and is not directly related to the pension benefits. Pension benefits are calculated on the basis of income rather than contributions.

2 The maximum rate is payable by individuals who do not pay income tax in Norway.

3 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: National Insurance Act (Lov om folketrygd), Chapter 20.