The Norwegian Public Service Pension Fund is Norway’s main provider of public occupational pensions. In addition, we provide housing loans and insurance schemes.
We are owned by the Ministry of Labour, and our framework conditions are determined by the Norwegian parliament.
On behalf of the Norwegian state, we administer pension entitlements of 339 billion Norwegian kroner for 1,600 organisations and 950,000 former and existing employees in the public sector, schools, research institutions, pharmacy businesses and organisations.
Who is a member?
Membership of the Norwegian Public Service Pension Fund is obligatory for government employees.
Other organisations in the public sector, for example state owned companies, may choose to join the Norwegian Public Service Pension Fund. The employees of those that join become members of the Fund.
People who were previously employed for more than three years in a company that provides occupational pension from the Norwegian Public Service Pension Fund retain their membership and have accumulated pension entitlements – so called deferred pension.
What benefits does membership give?
All members pay two percent of their salary as a pension contribution each month. For every krone that you pay, your employer pays between five and six kroner. The total sum contributes to your pension and to your other member benefits.
Our history can be traced back to 1814, when our predecessor was established under the name “Den almindelige norske enkekasse”. In 1917 the Norwegian Public Service Pension Fund was established, and from 1 January 2001 it was set up as a management company.
Innovative IT and change management project
In 1957 we were among the first in Norway to introduce the punched card system. In connection with the pension reform, we established the Perform project – one of the largest IT and change management projects in the public sector.
The Perform project started in 2008, and it delivered a new case work system on a new technology platform for the introduction of the new pension scheme on 01.01. 2011.
175 people work on the project, which will continue until 01.01.2012 and is estimated to cost around one billion kroner.
Throughout our existence, we have created new solutions in order to meet changing needs. Our most important task is to ensure on-time and correct pension payments and invoicing – irrespective of the changes experienced by society.
- 950,000 members across 1600 organisations
- Approx 138,000 receive a retirement pension
- Approx 58,000 receive a disability pension
- Approx 47,000 receive a spouse pension/ dependent’s pension
- Approx 2000 receive a children´s pension
- Some may receive several pensions concurrently
- 310,000 of the 950,000 members are completely or partially fit for work.
- 432,000 no longer work in an organisation affiliated with SPK, but have accrued pension entitlements in the Fund – so called deferred pension.
- Our 950,000 members have total accrued pension entitlements in the Norwegian Public Service Pension Fund of 339 billion kroner.
Total pension payments in 2009
We paid out 18.4 billion kroner in pension – after coordination with the National Insurance Scheme. This means that our members received total payments of 18.4 billion kroner more in pension in 2009 than they would have received if they had only been part of the National Insurance Scheme.
Number of employees
The Norwegian Public Service Pension Fund has around 380 employees – plus 100 project workers who have been brought in to work on the pension reform.