Effective January 1st 2011 major changes are implemented for the
Retirement Pension in the Norwegian Social Insurance Scheme
(Norwegian: Folketrygdens alderspensjon). The most immediate impact
is full flexibility between age 62 and 75 firstly when to start
drawing the retirement pension and secondly to combine continued
work/salary and drawing the pension. Longer term, if life
expectancy continues to increase in the future we will have to
choose between a longer working career or a lower retirement
pension.
The new pension design is the result of a 10-year planning process
and has been architected under major influence from Sigbjørn
Johnsen. Sigbjørn headed the Pensjonskommisjonen which was
established in 2001 and presented their report “Modernisert
folketrygd – Bærekraftig pensjon for framtida” (NOU
2004:1) January 13th 2004. A thorough political decision making
process has since followed, with the concluding Parliamentary
resolution in May 2009. Although modifications have been made to
the initial proposal, the basic structure of the new system is as
proposed by Sigbjørn and his Pensjonskommisjonen collaborators.
| From his position as Fylkesmann in his home county Hedmark,
Sigbjørn is now back in office for his second term as Minister of
Finance and we trust he will supervise and safeguard a successful
launch of the new pension design – Pensjonsreform. |
Sigbjørn |
The body responsible for the operational implementation of the
Pensjonsreform is Arbeids- and Velferdsetaten (NAV). They will now
have their hands full in the final preparation for this huge new
year’s gift 2011 (tjugeølløv) to the people of Norway.
The cache is placed in the vicinity of NAV’s head offices
and you should not be surprised to see activity and their lights
still burning also during off-office hours.
If you want to know more about Pensjonsreform, a short story is
available
here.
NAV has developed a more specific guidance which is available
here.
This service includes a
calculation facility which gives us individually a possibility
to estimate future retirement pension under different assumptions
for retirement age etc.
Happy retirement planning and retirement in due course!
The cache is a small black box containing some retirement
sweeties in “Super-Sigbjørn’s currency”. GPS
receiver conditions are somewhat poor in the area, so please take
notice of the powerful hint. The area is quite crowded, and stealth
is required.