Secure pensions in uncertain times
Neither stock market turbulence, changes in interest rates nor other fluctuations in financial markets affect your pension from the Norwegian Public Service Pension Fund (SPK).
– Many people ask us whether they need to make investment decisions about their pension. With a state occupational pension, you don't need to worry about global events affecting your pension, says pension expert Svein Rasmussen at SPK.
SPK provides pensions for 1.2 million public sector employees.
– State occupational pensions from SPK are not invested in shares or funds, so they are not affected by fluctuations in the stock market.
Pension entitlements are adjusted annually in line with general wage growth in Norway.
– With SPK, you don't need to monitor the markets or decide how your pension should be invested. Your pension is secure, predictable and, importantly, paid for life, says Rasmussen.
In addition to annual adjustments, there are two ways to increase your pension: working longer and delaying retirement. This applies to both the public and private sectors.
– Use the pension calculator at spk.no to find out how much pension you could receive. It shows how different choices can affect your pension, Rasmussen recommends.
How your pension is secured with SPK
- Pensions from SPK are not invested in shares or funds. They are guaranteed by the Norwegian state.
- Pension entitlements are adjusted annually in line with wage growth.
- Public sector employees do not need to make investment decisions or choose a risk profile.
- You can increase your pension by working longer and delaying retirement.
- State occupational pensions are paid for life.
Log in to check your pension
- The pension calculator shows how much pension you have accrued.
- It calculates your annual retirement pension and AFP, including figures from Nav, based on your current employment.
- See your options for combining work and pension, and how different choices will affect your pension.
- Check that your employment details are registered correctly, including your salary and percentage of full-time employment.
- Four months before you turn 62, a new option called "Apply for pension" will automatically appear when you log in. This option remains visible until you choose to apply.