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.
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.