Increase in pension liabilities

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The total pension liabilities in occupational pensions increased by NOK 110.7 billion between 2015 and 2016, to NOK 1 789 billion.

Total pension liabilities in occupational pensions

In private pension schemes, the pension liabilities increased by 8.4 per cent, with the highest growth in defined contribution schemes. The pension liabilities in defined contribution schemes were NOK 174.5 billion in 2016, an increase of 22.1 per cent compared to 2015, according to new figures from the statistics Occupational pensions.

In public pension schemes, the liabilities increased by 5.5 per cent between 2015 and 2016.

Figure 1. Total pension liabilities

2010 2011 2012 2013 2014 2015 2016
Totale forpliktelser 1152728 1236166 1354735 1454824 1612180 1677922 1788900

Earned premiums

Earned premiums for occupational pensions increased by 1.7 per cent to NOK 102 billion in 2016.

In 2016, the earned premiums for occupational pensions in private pension schemes were NOK 41.2 billion. NOK 23.2 billion of this stemmed from the defined contribution pension schemes.

Earned premiums for public occupational pension schemes increased by 7.6 per cent in the same period, to NOK 60.8 billion.

Figure 2. Pension payments in 2016 in percentage of pension funds, life insurance companies and The Norwegian Public Service Pension Fund

all
Life insurance companies 50 % 34460
Pension funds 12 % 8315
The Norwegian Public Service Pension Fund 37 % 25529

Pension payment

Pension payments increased by NOK 2.9 billion in 2016, to NOK 68.3 billion. The life insurance companies have 50 per cent of the total pension payments or NOK 34.5 billion, while The Norwegian Public Service Pension Fund accounts for 37 per cent of the payments.

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