Who is entitled to retirement pension?
When do you draw a retirement pension?
Combine work and retirement pension
How do you accumulate a retirement pension?
- The best 20 years of income determine the size of your pension.
- Your accumulated pension rights are expressed using pension points. You must have had an income higher than the National Insurance basic amount (G) (site in Norwegian) in a calendar year to earn pension points. You do not accumulate pension rights before 1967.
- Annual income is included from 1 January the year after the final tax assessment has been completed. For example, your income for 2020 is included in the pension calculation from 1 January 2022.
- One year of pension points entitles you to a whole year of National Insurance cover.
- If you are born in or after 1943, you may accumulate pension rights for pensionable income from the age of 17 and until you turn 75.
- Unemployment benefit, disability benefit , sick pay (text in Norwegian), work assessment allowance and Cash benefits for care (text in Norwegian) also count as pensionable income.
- You may also accumulate pension rights for unpaid care work.
- The basic pension is calculated regardless of previous work income. In order to draw a full basic pension, you must have at least 40 years of National Insurance cover (National Insurance cover is provided in periods you have lived and / or worked in Norway).
- The supplementary pension is primarily accumulated through your pensionable income and your pension points. You must have at least five years with pension points to be entitled to a supplementary pension.