343767
/en/bank-og-finansmarked/statistikker/pensjonsfond/aar
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statistikk
2018-08-16T08:00:00.000Z
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
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Pension funds

Updated

Next update

Not yet determined

Key figures

360 584

million NOK in total assets for pension funds in 2017

Key figures. NOK Million
Total
20162017
Assets331 805360 584
Shares, participation and primary capital certificates169 556190 058
Bonds and certificates137 989143 645
Earned premiums, net of reinsurance15 09814 262
Net income from financial assets17 22926 778
profitt/loss on ordinary activities3 8844 845
Gross pensions and claims payment8 1638 622
Value-adjusted result12 07322 263

See more tables on this subject

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

Pension funds. Profitt and loss account. NOK million
20162017
Earned premiums, net of reinsurance15 09814 262
Gross premiums written14 80513 966
Reinsurers share of gross premiums writtens-22-18
Transfer of premiumreserve from other companies315314
 
Claims incurred, net of reinsurance8 5748 822
Gross pensions and claims payments8 1638 622
Reinsurance share of gross claims payments-12-1
Other appropriations....
Transfers of premiumreserve etc. to other companies422201
 
Net change in technical provisions19 49626 940
Premium reserve10 6238 738
Other technical provisions1 7902 121
To/from revaluation reserve1 96210 142
Means allocated insurance contracts5 1205 939
 
Other operating income (+)/costs (-)-374-434
Operating income from real property694667
Other operating income2414
Personell costs487655
Commision submitted17242
Operating costs from real property11085
Other operating costs324333
 
Investment income (+)/ charges (-)7 3337 169
Bonds and certificates3 8353 552
Interest income other assets458769
Share dividend etc.3 0602 855
Interest charges208
 
Gains/losses, Value (re-)adjustments on financial assetes9 89619 609
Realized gains/losses6 7737 948
Shares, participations and primary capital certificates5 5588 440
Bonds and certificates205-80
Financial derivatives1 160-286
Land and buildings2..
Other realized gains/losses-152-126
Net change in value3 12411 661
Shares, participations and primary capital certificates2 87710 527
Bonds and certificates-7471 003
Financial derivatives182-164
Land and buildings216293
Other value re-adjustments (+)/adjustments (-)5973
 
Profitt/loss on ordinary activities3 8844 845
 
Other results components-104
 
Tax221185
 
Profitt/loss3 6734 656
 
Specifications
Balance on the technical account for pension funds1 5361 724
Value-adjusted profitt/loss12 07322 263

Table 2 
Pension funds. Balance sheet. NOK million

Pension funds. Balance sheet. NOK million
20162017
 
Assets
 
Intangible assets00
 
Tangible fixed assets8 7299 020
Land and buildings8 7259 016
Machinery, equipment and veichles44
 
Capital investments307 910334 042
Shares, participation and primary capital certificates48 63551 292
Shares in securities' funds120 921138 766
Bonds and certificates137 989143 645
Financial derivatives295162
Other capital investment70177
 
Loans5 9737 787
 
Remaining claims1 9971 383
Insurance claims583432
Reinsurance share of technical provisions....
Other claims1 414951
 
Cash and bank deposits7 1958 353
 
Total assets331 805360 584
 
Liabilities and equity capital
 
Equity capital35 51940 737
Deposit capital12 33213 046
Primary capital....
Share premium account....
Other deposit capital12 33213 046
Retained earnings23 18727 690
Other equity23 18727 690
 
Subordinated liabilities434434
Other subordinated liabilities434434
 
Technical provisions294 089317 057
Premium reserve239 622252 292
Additional provision13 15714 512
Revaluation reserve29 92639 581
Net provision for outstanding claims....
Premium provision and pension provision11 38310 672
 
Provisions for other charges359469
Provisions for pension6679
Deffered tax247365
Other provisions for charges4625
 
Remaining liabilities1 4051 887
Expences accrued87247
Defferes income219
Payable tax1925
Dividend70
Insurance liabilities3213
Other liabilities689912
Financial derivatives568670
 
Total liabilities331 805360 584
 
Specifications
Number of companies8987
Loan with morgage on dwelling1 092786

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
20162017
Sum all sectors169 556190 057
 
Non-financial corporations20 96122 177
Public unincorporated enterprises, owned by central government....
Public incorporated enterprises, owned by central government1 8802 369
Public unincorporated enterprises, owned by local government....
Public incorporated enterprises, owned by local government497125
Private non-financial incorporated enterprises18 58419 683
Private non-financial unincorporated enterprises....
Private non-profit institutions serving enterprises00
 
Financial corporations77 11390 076
Norges Bank....
Banks1 5691 704
Mortgage companies....
Finance companies....
State lending institutions etc.....
Financial holding companies1 8051 760
Mutual funds65 03476 859
Investment trusts and private equity funds8 0709 050
Other financial enterprises, except insurance companies and pension funds145145
Life insurance companies and pension funds5960
Non-life insurance companies432497
 
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 world71 48277 805

Table 4 
Pension funds. Holdings of bonds by issuing sector

Pension funds. Holdings of bonds by issuing sector
20162017
Sum all sectors137 989143 645
 
Non-financial corporations22 31826 251
Public unincorporated enterprises, owned by central government....
Public incorporated enterprises, owned by central government3 6233 675
Public unincorporated enterprises, owned by local government....
Public incorporated enterprises, owned by local government7 1306 418
Private non-financial incorporated enterprises11 56516 158
Private non-financial unincorporated enterprises....
Private non-profit institutions serving enterprises00
 
Financial corporations63 65862 898
Norges Bank....
Banks33 18834 287
Mortgage companies29 07326 848
Finance companies....
State lending institutions etc.....
Financial holding companies464444
Mutual funds....
Investment trusts and private equity funds155501
Other financial enterprises, except insurance companies and pension funds..3
Life insurance companies and pension funds535494
Non-life insurance companies243321
 
General government28 13731 278
Central government10 00911 111
Local government18 12820 167
 
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 world23 87723 218

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