How your pension accrued before 2020

The pension you earned before 1 January 2020 is a completed part of your pension. We calculate it separately from your post-2020 accrual because the rules changed on that date. When we calculate your total pension, we add this part to what you have earned after 2020.

What happened in 2020?

In 2020, a new state occupational pension scheme was introduced for all public employees in Norway born in 1963 or later. For these cohorts, accrual under the old rules ended on 31.12.2019 and accrual under the new rules started on 1.1.2020. That is why this date is a dividing line in your pension accrual.

You keep all accrual from before 1.1.2020, provided you have at least three years of combined accrual before and after 2020.

Withdrawal of pension accrued before 2020

You can start this pension from the month you turn 62. You must also start (or already be receiving) retirement pension from the National Insurance Scheme (Nav) no later than at the same time as you start this pension with us.

• This pension can only be withdrawn at 100 per cent.
• It is lifelong and cannot be stopped once it has started.
• In the first month you draw this pension from us, you must withdraw at least 20 per cent retirement pension from the National Insurance Scheme (Nav). After that, you can change the withdrawal rate without affecting the part you receive from us.

For those with early retirement (previously called “special retirement pension”), special rules apply: you can withdraw pension accrued before 2020 only from the age of 67.

Log in to see your amount and to apply for retirement pension accrued before 2020. You apply for retirement pension from the National Insurance Scheme at www.nav.no.

Calculation

We calculate the pension you earned before 2020 using an accrual fraction. Full accrual time is between 30 and 40 years, depending on when you became a member. For example, if you have 11 years of accrual before 2020, the fraction may be 11/40.

The pension basis is the salary you had on 31.12.2019 (your pensionable salary), adjusted in line with the National Insurance scheme basic amount (G) until you start this pension. The calculation is: adjusted pension basis × 66 per cent × accrual fraction.

The pension is also adjusted for life expectancy with an adjustment factor. The size of your pension is affected by your year of birth and when you choose to start this pension.

Coordination with the National Insurance Scheme (Nav)

Pension accrued before 2020 must be coordinated with the National Insurance Scheme. Coordination determines how much of your total retirement pension is paid by Nav and how much is paid by us.

• The Coordination Act requires us to reduce the occupational pension we pay with a coordination deduction for the pension you have accrued in the National Insurance Scheme.
• The coordination deduction is adjusted for life expectancy. Its size depends on your year of birth and when you start this pension.