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Large increase in pension liabilities
statistikk
2015-11-05T10:00:00.000Z
Banking and financial markets
en
tjenestepensj, Occupational pensions, pension schemes, pensions, pension payments, pension liabilities, defined contribution schemes, defined benefit schemes, individual pensionsFinancial institutions and other financial corporations, Banking and financial markets
false
Pension liabilities in occupational pensions totalled NOK 1 612 billion in 2014; an increase of NOK 157 billion from 2013.

Occupational pensions, 2014

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Large increase in pension liabilities

Pension liabilities in occupational pensions totalled NOK 1 612 billion in 2014; an increase of NOK 157 billion from 2013.

Key figures. Occupational pension and individual pension. NOK MillionPublished 5 November 2015
Total
20132014
Earned premiums92 744104 412
Pension payments57 46161 886
Pension liabilities1 454 8241 612 180

Source: Statistics Norway

In public pension schemes, the liabilities increased by 11 per cent from 2013 to 2014, to NOK 1 014 billion. In private pension schemes, the pension liabilities increased by 10 per cent, with the highest growth in defined contribution schemes. The pension liabilities in defined contribution schemes totalled NOK 120 billion in 2014; an increase of 27 per cent.

Earned premiums

Earned premiums for occupational pensions increased from NOK 92.7 billion in 2013 to NOK 104.4 billion in 2014; an increase of 13 per cent.

In 2014, the earned premiums for occupational pensions in private pension schemes were NOK 41.9 billion. NOK 17 billion of this is from the defined contribution pension schemes.

Earned premiums for public occupational pension schemes increased by 16 per cent in the same period, to NOK 62.5 billion.

Pension payments

Pension payments have increased by NOK 4.5 billon in 2014, to NOK 62 billion. Life insurance companies account for 50 per cent of the total pension payment or NOK 31.2 billion, while the Norwegian Public Service Pension Fund accounts for 39 per cent of the payments.