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/en/bank-og-finansmarked/statistikker/pensjonsfond/aar
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statistikk
2017-07-26T08:00:00.000Z
Banking and financial markets
en
pensjonsfond, Pension funds, private pension funds, municipal pension funds, profit and loss account, shares, bonds, lending, borrowers, issuersFinancial institutions and other financial corporations, Banking and financial markets
true

Pension funds

Updated

Next update

Not yet determined

Key figures

331 805

million NOK in total assets for pension funds in 2016

Key figures. NOK Million
Total
20152016
Assets314 014331 805
Shares, participation and primary capital certificates153 153169 494
Bonds and certificates137 571137 989
Earned premiums, net of reinsurance22 94015 098
Net income from financial assets12 15017 230
profitt/loss on ordinary activities2 8833 884
Gross pensions and claims payment7 7848 163
Value-adjusted result7 21012 073

See more tables on this subject

Table 1 
Pension funds. Profitt and loss account. NOK million

Pension funds. Profitt and loss account. NOK million
20152016
Earned premiums, net of reinsurance22 94015 098
Gross premiums written15 39114 805
Reinsurers share of gross premiums writtens-23-22
Transfer of premiumreserve from other companies7 573315
 
Claims incurred, net of reinsurance8 2238 574
Gross pensions and claims payments7 7848 163
Reinsurance share of gross claims payments-2-12
Other appropriations46..
Transfers of premiumreserve etc. to other companies395422
 
Net change in technical provisions23 64719 496
Premium reserve18 37810 623
Other technical provisions2 0911 790
To/from revaluation reserve9331 962
Means allocated insurance contracts2 2455 120
 
Other operating income (+)/costs (-)-338-374
Operating income from real property647694
Other operating income2124
Personell costs473487
Commision submitted154172
Operating costs from real property104110
Other operating costs274324
 
Investment income (+)/ charges (-)7 1397 159
Bonds and certificates4 1873 835
Interest income other assets597284
Share dividend etc.2 3653 060
Interest charges920
 
Gains/losses, Value (re-)adjustments on financial assetes5 01110 071
Realized gains/losses3 0946 947
Shares, participations and primary capital certificates7 4835 558
Bonds and certificates802205
Financial derivatives-4 7711 160
Land and buildings-582
Other realized gains/losses-36122
Net change in value1 9173 124
Shares, participations and primary capital certificates2 7512 877
Bonds and certificates-2 188-747
Financial derivatives224182
Land and buildings324216
Other value re-adjustments (+)/adjustments (-)807597
 
Profitt/loss on ordinary activities2 8833 884
 
Other results components-18-10
 
Tax103221
 
Profitt/loss2 7983 673
 
Specifications
Balance on the technical account for pension funds9251 536
Value-adjusted profitt/loss7 21012 073

Table 2 
Pension funds. Balance sheet. NOK million

Pension funds. Balance sheet. NOK million
20152016
 
Assets
 
Intangible assets70
 
Tangible fixed assets8 5288 729
Land and buildings8 5278 725
Machinery, equipment and veichles14
 
Capital investments291 071307 979
Shares, participation and primary capital certificates44 07748 573
Shares in securities' funds109 076120 921
Bonds and certificates137 571137 989
Financial derivatives257295
Other capital investment89202
 
Loans5 5445 904
 
Remaining claims1 6051 997
Insurance claims695672
Reinsurance share of technical provisions....
Other claims9101 326
 
Cash and bank deposits7 2597 195
 
Total assets314 014331 805
 
Liabilities and equity capital
 
Equity capital31 15835 519
Deposit capital11 58912 315
Primary capital....
Share premium account....
Other deposit capital11 58912 315
Retained earnings19 56923 204
Other equity19 56923 204
 
Subordinated liabilities423434
Other subordinated liabilities423434
 
Technical provisions280 104294 089
Premium reserve225 573239 622
Additional provision11 99113 157
Revaluation reserve27 98529 926
Net provision for outstanding claims1 124..
Premium provision and pension provision13 43111 383
 
Provisions for other charges186359
Provisions for pension7266
Deffered tax99247
Other provisions for charges1546
 
Remaining liabilities2 1431 405
Expences accrued16187
Defferes income22
Payable tax2819
Dividend77
Insurance liabilities4832
Other liabilities548689
Financial derivatives1 348568
 
Total liabilities314 014331 805
 
Specifications
Number of companies9089
Loan with morgage on dwelling1 3331 092

Table 3 
Pension funds. Investments in shares, participation and primary capital certificates by specified sector. NOK Million

Pension funds. Investments in shares, participation and primary capital certificates by specified sector. NOK Million
20152016
Sum all sectors153 154169 494
 
Non-financial corporations19 11320 826
Public unincorporated enterprises, owned by central government....
Public incorporated enterprises, owned by central government2 2991 880
Public unincorporated enterprises, owned by local government....
Public incorporated enterprises, owned by local government226497
Private non-financial incorporated enterprises16 58918 449
Private non-financial unincorporated enterprises....
Private non-profit institutions serving enterprises00
 
Financial corporations66 58577 186
Norges Bank....
Banks1 2951 569
Mortgage companies....
Finance companies....
State lending institutions etc.....
Financial holding companies1 4781 271
Mutual funds56 60865 034
Investment trusts and private equity funds6 3818 143
Other financial enterprises, except insurance companies and pension funds158679
Life insurance companies and pension funds10659
Non-life insurance companies558432
 
General government....
Central government....
Local government....
 
Non-profit institutions serving households....
 
Households....
Unincorporated enterprises within households....
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.....
Employees, recipients of property income, pensions and social contributions, students etc.....
Unspecified sector....
 
Rest of the world67 45571 482

Table 4 
Pension funds. Holdings of bonds by issuing sector

Pension funds. Holdings of bonds by issuing sector
20152016
Sum all sectors137 571137 989
 
Non-financial corporations20 00822 318
Public unincorporated enterprises, owned by central government....
Public incorporated enterprises, owned by central government2 8743 623
Public unincorporated enterprises, owned by local government10..
Public incorporated enterprises, owned by local government6 6717 130
Private non-financial incorporated enterprises10 42011 565
Private non-financial unincorporated enterprises33..
Private non-profit institutions serving enterprises00
 
Financial corporations65 31063 658
Norges Bank....
Banks35 42533 188
Mortgage companies28 52929 002
Finance companies19874
State lending institutions etc.....
Financial holding companies425464
Mutual funds....
Investment trusts and private equity funds165155
Other financial enterprises, except insurance companies and pension funds18..
Life insurance companies and pension funds399535
Non-life insurance companies152240
 
General government24 72428 137
Central government8 83710 009
Local government15 88718 128
 
Non-profit institutions serving households....
 
Households....
Unincorporated enterprises within households....
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.....
Employees, recipients of property income, pensions and social contributions, students etc.....
Unspecified sector....
 
Rest of the world27 52923 877

About the statistics

The statistics cover all pension funds in Norway. They show totals, balance sheets and specifications of individual financial instruments by sector.

Definitions

Definitions of the main concepts and variables

Balance sheet: The balance sheet shows assets, liabilities and equity at the end of accounting period.

Profitt and loss account: The profit and loss account shows income, costs and expenses over the course of the accounting period.

Standard classifications

We have three types of classification: instrument, sector and type.

Financial instruments and physical capital:
Liabilities, claims and other assets in the balance sheet of the financial institutions are divided into two main groups with a view to providing major uniform groups such as bank lending, funding and deposits.
Debtor and creditor sector:
Borrowers and lenders are classified according to institutional sector classification, based on national accounts rules.
Types of income and expenses:
Including interest income and expenses, are based on national accounts rules.

Administrative information

Name and topic

Name: Pension funds
Topic: Banking and financial markets

Responsible division

Division for Financial Corporations

Regional level

Only at the national level.

Frequency and timeliness

Annual.

International reporting

Eurostat

Microdata

Micro data are stored in an Oracle database.

Background

Background and purpose

The purpose is to provide statistics for the national accounts, financial sector balances and census of foreign assets and liabilities.

Users and applications

The statistics are included in national accounts, financial sector balances, balance of payments and statistics on Norway's foreign assets and liabilities. Other major users are Norges Bank, The Financial Supervisory Authority of Norway, Ministry of Finance and the media.

Equal treatment of users

Not relevant

Coherence with other statistics

The statistics are based on the guidelines in the national accounts standards System of National Accounts (SNA), European System of Accounts (ESA) and the IMF Manual on Monetary and Financial Statistics.

Statistics from the financial institutions are used in the national accounts, financial sector accounts, the balance of payments and in the Norwegian statistics of foreign debt and receivables.

Legal authority

Statistics Act Section 3-2 (banks and finance corporations), Act on the The Financial Supervisory Authority of Norway Sections 1 and 4.

EEA reference

Council regulation 295/2008. Council regulation 251/2009. Amendments to council regulation 295/2008.

Council regulation (EC) no. 2223/96 The regulation covers the European system for national and regional accounts.

Council regulation (EC) no. 1392/2007 Amendments to council regulation 2223/96.

Council regulation (EC) no. 1606/2002 Regulation on the application of international accounting standards.

Council regulation (EC) no. 297/2008 Amendments to council regulation 1606/2002.

Production

Population

The population is all pension funds with lincence from The Financial Supervisory Authority of Norway.

Data sources and sampling

The statistics are based on accounting data from the enterprises.

Total count.

Collection of data, editing and estimations

The Financial Supervisory Authority of Norway and Statistics Norway work together to collect the accounting data.

Revision of the pension funds accounting statements are undertaken by Statistics Norway and The Financial Supervisory Authority of Norway.

Seasonal adjustment

Not relevant

Confidentiality

The analysis is split into two parts, i.e. the sum of all municipal pension funds and the sum of all private pension funds. From 1998 data for pension funds established by municipal enterprises are separated from private pension funds.

Comparability over time and space

The accounting statistics for the financial institutions is based on current accounting regulations for financial institutions. Breaches may therefore occur in connection with changes in accounting legislation and in the regulations applicable to the financial institutions. Structural changes like new companies, mergers and spin-offs, with portfolio movements as one consequence, may also lead to breaches in the time series.

International Financial Reporting Standard (IFRS) The new accounting standard IFRS is an example of a change that will cause breaches in the time series in the periods to come. In 2009/2010 all reporting companies must, in one way or another, report according to the IFRS standard, and data may then be fully comparable again. However, the IFRS standard will lead to larger fluctuations in the data because of the more extensive use of fair value in the accounting. The comparison of the reported data with the companies' official accounts is also challenging because the IFRS standard does not require a specific presentation of the accounts, as the traditional Norwegian accounting standard does.

Regulation on loans The IFRS-adapted regulation on loans was introduced 1. January 2005. It lead to a small change in the measuring of the value of loans and guaranties in the accounting data and thereby to a small breach in the time series for loans and loan loss provisions. There were also a breach in the time series on loans in 1992 due to changed accounting rules.

Changes in the presentation of the statistics Credit lines secured on dwellings became a new specification from January 2006. As a consequence the numbers for repayment loans secured on dwellings and credit lines, working capital facility and consumer credit were reduced.

Structural changes There are several mergers, spin-offs and new companies being started every year. Many of these structural changes have no significant impact on the statistics, while others leads to major breaches in the time series. When the latter is the case, it will be commented upon in this section.

Portfolio movements The introduction of IFRS, the regulation on loans and the structural changes mentioned, has lead to portfolio movements especially between banks and mortgage companies. This gives breaches in the time series and needs to be taken into consideration when interpreting the data.

Accuracy and reliability

Sources of error and uncertainty

Errors and discrepancies can occur in the accounting data. These discrepancies can have a number of sources:

  • Errors in the reporting institutions' accounts
  • Errors in the transfer of data from the institution's primary accounts to recipients
  • Different accounting and evaluation principles
  • Different accounting dates for transactions
  • Insufficient data from the reporting parties
  • Processing errors

Due to large amounts of data and a dynamic control and revision system, published data will be regarded as preliminary until next years data for the same period is published. This means that data for the current year may be revised without this being marked in the preceeding publishing. Large and important revision however, will be commented upon in the publishing of Today's Statistics.

Revision

Not relevant

Contact